With immediate effect, Freudenberg Filtration Technologies Business Group has acquired a majority shareholding in Apollo Air-cleaner Co., Ltd. The purchase agreement was signed in December 2018. The Chinese antitrust authorities have now approved the acquisition. The company is a leading provider of air and water filtration solutions in China. In 2017, Apollo generated sales of 750 million RMB (approximately €96 million) with roughly 1000 employees. Apollo will continue as a joint venture between Freudenberg, with a 75% stake, and the previous sole proprietor Apollo Trading Group, Japan, with the remaining 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,” says Dr. Mohsen Sohi, Freudenberg Group CEO.

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 $5 billion by the year 2022.

“Apollo is a great fit for Freudenberg,” says Dr. Andreas Kreuter, CEO of Freudenberg Filtration Technologies. “It is an innovative technology company that complements our own portfolio of filtration solutions for indoor air and water purification. The company also has first class production expertise and excellent networks in the industry.”