WEINHEIM, Germany (March 2)—Freudenberg & Co. has completed its acquisition of Chem-Trend Inc. and put the producer of release agents into a new business group, Freudenberg Chemical Specialties.
This move places all of Freudenberg's lubrication activities—its Klueber Lubrication Group, based in Munich, Germany, together with Chem-Trend—under one umbrella. The parts nevertheless will "continue to operate independently with their own brands in their own respective markets," a statement from the group said. Freudenberg Chemical Specialties will generate sales of about $465 million and employ about 2,000.
Chem-Trend is a leading manufacturer of release agents for molding rubber, plastics and polyurethane, as well as for the high-pressure die casting industry. In 2003, the Howell, Mich.-based company employed 410 and reported sales of about $125 million.
Klueber Lubrication, which has been part of Freudenberg since 1966, previously was the only specialty lubricant activity within the group.