German chemicals firm invests in Shanghai

SHANGHAI: German chemicals manufacturer Freudenberg Group will build a 200-million-yuan Shanghai plant to make specialty lubricants and release agents.

The company said yesterday local production could help boost its sales here. As well as lubricants and release agents, it sells auto interior filters and Vileda brand household products.

Sales in China rose 16 percent from 2006 to 3.585 billion yuan in 2007, Freudenberg said. Chemical products for the auto industry accounted for about 40 percent of total sales. Since 2000, the manufacturer has invested 1.4 billion yuan in Chinese projects.