Freudenberg Completes Apollo Air Acquisition

01 April 2019

Freudenberg’s Filtration Technologies Business Group has finalized the acquisition of a majority stake in Apollo Air-cleaner Co., a Chinese maker of air and water filtration products.

The purchase agreement was signed in December 2018 and Chinese antitrust authorities have now approved the acquisition. In 2017, Apollo generated sales of around 96 million and roughly 1000 employees. Apollo will continue as a joint venture between Freudenberg (75%) and the previous sole proprietor Apollo Trading Group, Japan (25%), under the name Freudenberg Apollo Filtration Technologies. Freudenberg Filtration Technologies will bring its current consumer filtration business into the joint venture.

“By purchasing the majority stake in Apollo, we are strengthening our position in China’s rapidly growing market for filtration solutions,” said Dr. Mohsen Sohi, Freudenberg Group CEO.

Freudenberg said air and water filtration solutions are enjoying strong year-on-year growth rates, especially in China, thanks to legislation demanding stricter regulations and increased environmental awareness. Experts estimate that the global market for products of Apollo – filters for room air purifiers, decentralized ventilation systems and water treatment – will have a total value of some US$5 billion by the year 2022, the company said.

STAY CONNECTED



Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

POWER SOURCING GUIDE

The trusted reference and buyer’s guide for 83 years

The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.

Visit Now

CONNECT WITH THE TEAM
Becky Schultz Vice President of Content Tel: +1 480 408 9774 E-mail: [email protected]
Julian Buckley Editor Tel: +44 (0) 1892 784088 E-mail: [email protected]
Chad Elmore Managing Editor Tel: +1 262 754 4114 E-mail: [email protected]
Josh Kunz Power Progress Brand Manager Tel: +1 414 379 2672 E-mail: [email protected]
Roberta Prandi Power Progress International Brand Manager Tel: +39 334 6538183 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA