Freudenberg Group expands global accumulator business
Acquisition of American manufacturer Tobul Accumulator
WEINHEIM, Germany, Aug. 5, 2014 /PRNewswire/ — Freudenberg Sealing Technologies, the Freudenberg Group’s global sealing specialist, acquired Tobul Accumulator, Inc., with effect from July 31, 2014. Tobul is a world-class developer and manufacturer of hydraulic accumulators. The family-owned company has sites in Bamberg, South Carolina and Houston, Texas, USA and employs some 120 people.
“With the acquisition of Tobul, we strengthen our established accumulator business and continue to develop our portfolio with innovative technical solutions,” explains Dr. Mohsen Sohi, Speaker of the Board of Management of the Freudenberg Group.
Among other products, the company manufactures piston and bladder accumulators for industrial applications. The focal point lies in the market segments oil & gas, mining as well as fluid power in North and South America. The most important products are hydraulic piston accumulators for blowout preventers that prevent an uncontrolled release of drilling fluid, crude oil or natural gas during the raw material extraction process.
The family-owned company was established in 1980 by Jim Tobul, who has over 35 years’ experience in the field of accumulator technology. “Becoming a part of the Freudenberg Group is decisive for our future development,” stresses Tobul. “In a technology group such as Freudenberg, we will continue to expand our international business with the aim of becoming the number one in the market for hydraulic accumulators.” Jim Tobul will continue to play an active role in the company in the future. The company has modern production facilities in the USA at the headquarters in Bamberg, South Carolina and in Houston, Texas, together with a sales office in Shanghai, China.
“The German site at Remagen is Freudenberg’s global lead center for accumulators, especially for the car industry. The two companies complement each other very well. Synergies in know-how, in the regional markets, as well as in the after sales business can be harnessed,” says Claus Mohlenkamp, Chairman of the Management Board of Freudenberg Sealing Technologies. The Japanese EKK Group has a share of up to 25 percent in the accumulator business.
Tobul’s industrial accumulators – especially piston accumulators as well as bladder accumulators – are used world-wide in more than 50 countries.
About the Freudenberg Group
The Freudenberg Group is a family company offering its customers technically challenging product solutions and services. The Group develops and manufactures seals, vibration control components, filters, nonwovens, products for surface treatment, release agents and specialty lubricants, medical and mechatronic products.
Especially for mid-size companies Freudenberg develops software solutions and IT services. The end-user can find modern Freudenberg household products in the shops under the brand names of vileda®, O-Cedar®, Wettex®, Gala® and SWASH®. The Freudenberg Group employed some 40,000 people in about 60 countries and generated sales of more than EUR6.6 billion in 2013 (inclusive of pro-rata consolidation of the 50:50 Joint Ventures). For further information, please go to www.freudenberg.com.
About Freudenberg Sealing Technologies
Freudenberg Sealing Technologies is a supplier, development and service partner for customers in different market segments, such as the automotive industry, civil aviation, mechanical engineering, shipbuilding, food and pharmaceuticals, and agricultural and construction machinery.
Based on the Simmerring® which was developed by Freudenberg in 1929, Freudenberg Sealing Technologies has built up a broad and continuously expanding range of seals and vibration control technology products – from customized solutions to complete sealing packages. Together with its partners the Freudenberg Business Group forms a global network with the aim of offering products of the same high quality.
As Freudenberg’s largest Business Group, Freudenberg Sealing Technologies generated sales of almost EUR 2 billion in 2013 and employed some 15,340 people.
About Tobul Accumulator, Inc.
Tobul Accumulator, Inc. is a leading manufacturer of hydraulic accumulators. The headquarters of the company are in Bamberg, South Carolina, USA. In total the company has two state-of-the-art production facilities in Bamberg and Houston, Texas as well as offices in Bamberg and Shanghai, China. Tobul employs some 120 people. For further information, please go to www.tobul.com.
SOURCE Freudenberg Group