Freudenberg to invest Rs 111 cr for new production facility near Chennai

Company is said to have invested Rs 1,483 cr over the past 5 yrs

Freudenberg, a global technology group, plans to invest around 15 million euros (around Rs 111 crore) to set up a facility near Chennai. The company will begin construction work for the upcoming facility in the autumn of 2017.

It will be located 50 kilometers to the southwest of the city at Vallam-Vadagal Industrial Park. The facility will produce sealing solutions for the automotive industry, among other products.

Land acquired for the purpose spreads across a land area of 56,000 metre square and could be developed further.

According to the company, Freudenberg invested  €8.6 million or Rs 62 crore in India last year.

"Investments were