Freudenberg Chemical to set up production facility in China
10 Nov '05
3 min read
Production of speciality lubricants for Klüber Lubrication and mold release agents for Chem-Trend will meet rising demand levels in China's expanding economy.
Munich based chemical manufacturing firm Freudenberg Chemical Specialities KG is readying itself to participate more closely in China's economic boom.
It has signed an investment agreement with the Shanghai Qingpu Industrial Park, and has thus taken the first step towards the planned construction of a production facility for speciality lubricants and release agents. Production is scheduled to start up in 2007, with annual production output set to increase rapidly by 2010.
President & CEO, Hanno D. Wentzler stated that as one of the world's fastest-expanding economies, China has a special role to play for their own growth plans. The demand for high-quality lubricants and release agents will be rising over proportionately here during the years ahead, because the key industries important to their business are likewise achieving continuous growth.
The sectors in China exhibiting particularly vigorous expansion include the automotive, textile, plastics, and footwear and tire industries.
The plan is to build a shared production facility for Klüber Lubrication and Chem-Trend, each part of Freudenberg Chemical Specialities KG, and both of them operating already-expanding sales companies in China. Their customers come from almost all important sectors of industry, and are currentlybeing supplied with products from manufacturing facilities outside China.
marketing@alchempro.com
