Freudenberg Group expands global accumulator business
|Acquisition of American manufacturer Tobul Accumulator
Weinheim. August 13th, 2014. Freudenberg Sealing Technologies, the Freudenberg Group's global sealing specialist, is to acquire 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 Möhlenkamp, 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.