FUCHS acquires the LUBRITENE group’s business in South Africa and Australia
The companies LUBRITENE and LUBRASA recorded combined sales of EUR 15 million in their financial year 2013/2014. The acquisition was primarily made to obtain access to product technology, customer base and personnel. The current production capacities of the LUBRITENE group will over time be integrated into FUCHS plants in Johannesburg and Melbourne.
The LUBRITENE product range complements the lubricants portfolio of FUCHS’ mining business.
The LUBRASA activities will extend the FUCHS product portfolio for food grade applications in Southern Africa.
With this transaction FUCHS is further expanding its specialisation on lubricants and its long term and global strategy of marketing niche technology.
In 2013, the FUCHS PETROLUB Group accounted for EUR 1.8 billion sales with staff of 3,888. FUCHS LUBRICANTS (SOUTH AFRICA) made EUR 49 million sales with 132 employees, FUCHS LUBRICANTS (AUSTRALASIA) had EUR 135 million sales with 138 employees.
The transaction is subject to local competition authorities’ approval.
Mannheim, May 14, 2014
FUCHS PETROLUB SE
Friesenheimer Str. 17
Tel: +49 (0)621 3802-1104
This press release is also available on the internet at www.fuchs-oil.com.
This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS PETROLUB SE. Even if the management is of the opinion that these assumptions and estimates are accurate, future actual developments and future actual results may differ significantly from these assumptions and estimates due to a variety of factors. These factors can include changes in the overall economic climate, changes to exchange rates and interest rates, and changes in the lubricants industry. FUCHS PETROLUB SE provides no guarantee that future developments and the results actually achieved in the future will match the assumptions and estimates set out in this press release and assumes no liability for such.