Germany-based Freudenberg Group to invest in Punjab

Freudenberg Group, a global technology conglomerate, deals in multiple sectors such as mobility, energy, chemicals, household, textile with 50,000 employees in around 60 countries, and had a total turnover of more than 9.4 billion Euros in 2018.

Germany-based Freudenberg Group CEO for Real Estate Ulrich Kerber on Tuesday discussed with Punjab Chief Minister Amarinder Singh the modalities for investing in the state's automotive sector. Amarinder assured Kerber of his government''s full support and cooperation to undertake expansion in the state, a government statement said here.

Kerber informed the chief minister that the group was in constant touch with the ''Invest Punjab'' team for the identification of a suitable site for the new project, which would soon be finalized. He told Amarinder that Vibracoustic India, an arm of Freudenberg Group, is a leading supplier of NVH (noise, vibration, and harshness) solutions for the automotive industry, with a presence in 19 countries. Vibracoustic India President and Head of Operations Jagminder Bawa informed the chief minister that the group started its operation 20 years ago in Mohali. Amarinder appreciated the group''s endeavors and said the new proposed project would further boost investor sentiment in the state, besides generating employment. With his government''s investor-friendly policies and renewed confidence of entrepreneurs, Punjab has firmed up investments worth nearly Rs 60,000 crore on the ground since March 2017, he said.

Freudenberg Group, a global technology conglomerate, deals in multiple sectors such as mobility, energy, chemicals, household, textile with 50,000 employees in around 60 countries, and had a total turnover of more than 9.4 billion Euros in 2018.