WEINHEIM, Germany (June 9)—Freudenberg-NOK G.P. generated 5-percent greater sales last year despite the slight decline in North American vehicle production, according to parent Freudenberg Group's 2002 annual report. Revenue rose to $811 million as strong sales performances by the sealing, O-ring and Corteco aftermarket businesses offset lackluster years by the Simrit and Vibracoustic units, Freudenberg said. Globally, Freudenberg Group recorded 2-percent earnings growth, to $128 million, while sales fell slightly on currency exchange losses to $3.7 billion. To foster continued earnings growth, Freudenberg will increase funding for research and development and explore innovative fields of business, according to Peter Bettermann, speaker of the management board.
Freudenberg's sales, earnings rise in 2002
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