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German group eyes China's health market potential
By Richard Fu |
November 7, 2012, Wednesday
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Online Edition
Online Edition
THE Freudenberg Group, a highly diversified manufacturer, said medical technology will be part of its investment focus in China to ensure long-term profitable growth as people have longer life expectancy.
By 2030, half of Asians will be older than 60 and demand for medical services will inevitably rise because of an increase in chronic diseases and seniors' wish for better life quality, Hanno D. Wentzler, the company's regional representative, said in Shanghai yesterday.
The German company plans to grow continuously in the field with a buy-and-build strategy, he said.
The company is a supplier of seals to China's west-to-east gas pipelines and vibration control technology for the country's railway sector, among other businesses which also include industrial filtration and specialty lubricants.
Freudenberg's sales in China grew 9.8 percent annually to 2.98 billion yuan (US$480 million) in the first three quarters of this year.
By 2030, half of Asians will be older than 60 and demand for medical services will inevitably rise because of an increase in chronic diseases and seniors' wish for better life quality, Hanno D. Wentzler, the company's regional representative, said in Shanghai yesterday.
The German company plans to grow continuously in the field with a buy-and-build strategy, he said.
The company is a supplier of seals to China's west-to-east gas pipelines and vibration control technology for the country's railway sector, among other businesses which also include industrial filtration and specialty lubricants.
Freudenberg's sales in China grew 9.8 percent annually to 2.98 billion yuan (US$480 million) in the first three quarters of this year.
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