WEINHEIM, Germany (May 20, 2008) — Freudenberg & Co. K.G. reported sales of $7.3 billion for the 12 months ended December 2007, with especially successful sales in seals and vibration control technology in Europe.
The company said this represents year-on-year growth of $394 million or 5.7 percent.
Adjusted for exchange rate effects, acquisitions and disinvestments, sales rose by about 7.5 percent. Compared with 2006, profit from operations was up 26 percent to $525.3 million. At year-end, Freudenberg's work force totaled 34,330 employees, 804 more than at year-end 2006.
Peter Bettermann, speaker of the Freudenberg Management Board, said the company is systematically expanding its activities in certain segments of the general industry sector, such as oil and gas, heavy hydraulics, aerospace and medical technology.
For the current financial year, Freudenberg expects further positive development despite a slowing global economy. Growth in Asia, especially in China and India, will compensate for the weak U.S. automobile market, the firm said.