Page 136 - CW E-Magazine (29-10-2024)

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EXPANDING OPERATIONS

Freudenberg opens new manufacturing facilities

in Punjab

Germany-based technology conglo-
merate, Freudenberg Group, has
inaugurated two manufacturing facili-
ties in Morinda, Punjab, involving at an
investment of €42-mn, representing the
Group’s largest fi nancial commitment
in India to date. These new factories,
which include advanced machinery,
will house operations for Freudenberg-
NOK India (FNI) and Vibracoustic
India (VI), both of which were previously
operating from leased sites in Basma
and Mohali. These facilities will spe-
cialise in sealing and vibration control
products for both automotive and Materials India and Director & CEO from regional universities, particularly
general industrial applications. of Freudenberg Regional Corporate around Chandigarh.
Centre India, added, “The inaugura-
Speaking at the inauguration, tion of our new manufacturing plants in The company also envisions mak-
Dr. Mohsen Sohi, CEO of Freudenberg Morinda showcases our long-term com- ing India a hub for some of its global
Group remarked, “Our investment in mitment to sustainable growth in India. R&D activities, refl ecting its confi -
the new facilities in Morinda refl ects By bringing our operations together in dence in the country’s engineering
Freudenberg’s strong commitment to this advanced facility, we aim to create talent. The Freudenberg Group develops
the Indian market and the ‘Make in new job opportunities and nurture local technologies and products for diverse
India’ vision. This expansion not only talent. This investment helps us better applications like seals, vibration control
aligns with our global growth strategy serve our customers across different in- components, batteries and fuel cells,
but also boosts our ability to serve dustries, offering high-quality products technical textiles, specialty chemi-
customers with greater effi ciency, and solutions made in India for both cals among others. Freudenberg NOK
innovation, and quality.” domestic and international markets.” Sealing Technologies - a joint venture
between Freudenberg and Japan’s NOK
Mr. Sivasailam G, Managing The site will also serve as a global Corporation, manufactures advanced
Director at Freudenberg Performance engineering hub, attracting top talent sealing and vibration control solutions.

POLYMER ADDITIVES
Platinum Industries eyes global acquisition;

to consider fundraising

Platinum Industries Ltd., a manu- annual growth rate (CAGR) of 31% but not limited to any other convertible
facturer of PVC and CPVC additives, in revenue from FY21 to FY24, while securities including warrants, through
is exploring strategic global acqui- maintaining a debt-free status and without preferential issues, private placements
sition opportunities and evaluating relying on any debt instruments. or any other methods or a combination
potential fund-raising initiatives to drive thereof as may be permitted by appli-
the company’s growth and accelerate “The fund-raising initiatives will be cable laws, which shall be subject to
global expansion. Platinum Industries by way of issue of one or more instru- necessary regulatory/statutory appro-
claims to have achieved a compound ments, including issue of equity shares vals and shareholder approvals,” it said.

136 Chemical Weekly October 29, 2024

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