Car parts giant Freudenberg builds new factory in Yantai

On November 5, 2010, the Freudenberg Group, which is dedicated to chemical and automotive component technologies, built a new factory in Yantai, which produces air springs and chassis parts for commercial vehicles. It is reported that Freudenberg plans to invest 130 million yuan in production and infrastructure construction by 2014. In addition, it will invest 32 million yuan for the new plant to supply the rapidly growing China auto market for automobile production and sales.

According to reports, since 2005, Freudenberg has invested more than 1 billion yuan in the establishment of factories and sales organizations. In 2009, the total investment amounted to more than 114 million yuan. In the first three quarters of 2010, Freudenberg ’s sales increased by 60% compared with the same period in 2009. Freudenberg, the Freudenberg Group's representative in China and chief executive of Freudenberg Specialty Chemicals, said: “Ftpware has been operating plants in China for decades, and localized production is becoming increasingly important to meet the needs of the Chinese market. Therefore we plan to invest further to increase production capacity."

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