Freudenberg Acquires Chinese Filtration Company Apollo
By CT2 Staff01 April 2019
Freudenberg Filtration Technologies has acquired a majority stake in Apollo Air-cleaner Co. Ltd. The Chinese company is known as a top provider of air and water filtration products in China, with €96 million in sales in 2017.
With a 75% stake in the company, Freudenberg Filtration Technologies will run Apollo as a joint venture under the name Freudenberg Apollo Filtration Technologies. While Apollo specializes in indoor air and water purification, its technologies have the potential to improve Freudenberg’s oil and gas filtration products.
“By purchasing the majority stake in Apollo, we are strengthening our position in China’s rapidly growing market for filtration solutions,” said Mohsen Sohi, Freudenberg Group CEO.