Freudenberg-NOK Abandons Plastics for Seals
Resource from: www.ebearing.com Likes:2961
Sep 21,2004
Freudenberg-NOK Sealing Products (USA, a subsidiary of Freudenberg-NOK, Germany, itself a 1989 joint venture of Germany's Freudenberg and Japan's NOK) is abandoning the thermoset plastic gasket business as non-core, to focus on seals.
The thermoset plastic gasket business was difficult for Freudenberg-NOK. While it offered sales and marketing synergies with the seal business, it also put the company into direct competition with supplier customers.
Sealing Products' thermoset gaskets are manufactured from a proprietary polymer.
Its only thermoset customer is DaimlerChrysler for Chrysler Corp. automotive engine cam cover gaskets. Sealing Products won other supply contracts for thermoset gaskets, but has since backed out of them. The DaimlerChrysler supply contract runs 2-4 more years, which Sealing Products said it will honor.
In the end the potential for lost sales opportunities in the seal business outweighed any possible gains in thermoset gaskets. Thermoset gaskets are a $10 million segment for Sealing Products, while seal sales to automakers in North America alone hit $720 million in 2003. By 2008, Sealing Products expects seal sales in North America to reach $1.25 billion.
Richard Allen, Freudenberg-NOK Manufactured Products CEO, said, "Our focus on sales has led us to become a single-source capable supplier. We can supply every single seal, be it for an engine, a transmission, an axle, or whatever."
Freudenberg-NOK has international sales of approximately $7.5 billion, and produces more than 10 billion components per year across 57 operations worldwide. U.S. businesses include Sealing Systems, Simrit, TransTec, Flexitech, Corteco, Vibracoustic, and Dichtomatik.
(www.ebearing.com)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
