Freudenberg Sealing Technologies has confirmed it is acquiring a 50% stake in the Schneegans family company. The Schneegans Group has a total workforce of approximately 240 and generated revenue of around €45m (US$57.9m) in 2011.
The company, which will be renamed Schneegans Freudenberg GmbH, has production facilities in Emmerich, Germany, and Losenstein, Austria. Approval from the anti-trust authorities in Germany and Austria is expected for the end of October.
Freudenberg described the acquisition as making a strategic investment in the new know-how of multi-component injection moulding production technology and in forward-looking plastic products, particularly for the automotive industry.
The multi-component injection moulding production method developed by Schneegans GmbH enables the manufacture of sophisticated thermoplastic seal components, such as components for automotive engine compartments, in only a few processing steps. Moreover, these plastic products are said to support OEMs in their efforts to reduce vehicle weight and thus lower CO2 emissions.
Plastic replaces metal, and multi-component injection moulding means the seal is integrated directly in the housing. As a result, the customer saves one processing step during assembly. Furthermore, hardly any waste is generated by the production process.
Mohsen Sohi, management board speaker of the Freudenberg Group, commented: “With Schneegans we have found an innovative partner with specialised material know-how that offers forward-looking products – in particular for the automotive industry. In addition, this production technology expands our know-how.”
As part of the Freudenberg network, Schneegans Freudenberg will have access to further markets and innovations. Claus Möhlenkamp, speaker of the management board of Freudenberg Sealing Technologies, added: “The joint venture benefits ideally from the competence of both partners and can expand its market position in the automotive sector in particular. This is enhanced by a similar mindset on the part of both partners with regard to customer orientation, quality and entrepreneurial responsibility.”
The joint venture’s product range will not only include housing covers with integrated seals for water pumps and automatic transmissions, but also oil dipsticks with all sealing functions and a large selection of functional components which are integrated in the seal using the multi-component injection moulding process. Schneegans Freudenberg will mainly produce parts for the automotive industry, but will also manufacture products for industrial applications and for the photovoltaic market.
