FUCHS acquires Fluid Vision Technology LLC
FUCHS PETROLUB SE, the world's largest independent manufacturer of high-quality lubricants and related products, acquired the business of Dallas, Texas-based wireless sensor technology company Fluid Vision Technologies, LLC for less than EUR 1 million.
With this acquisition, FUCHS Industrial fluid customers can automate process fluid monitoring with the Internet of Things (IoT) technology.
"We are very excited about this contribution to the Smart Factory Revolution," said Keith Brewer, CEO of FUCHS LUBRICANTS CO. "The Fluid Vision technology provides our customers with optimized fluid maintenance, and improved performance at a reduced cost of ownership."
About Fluid Vision Technologies, LLC
Fluid Vision Technologies, founded in 2015, focuses on the development of sensor-based automated fluid condition monitoring specific to process fluids. Continued advancement of the technology and software now enable secure data integration and remote monitoring capabilities. The solution not only helps optimize fluid effectiveness, but also reduces waste related cost.
Mannheim, March 13, 2018
FUCHS PETROLUB SE
Friesenheimer Str. 17
Tel. +49 621 3802-1207
The following information is available online:
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The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs more than 5,000 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its most important markets in terms of sales revenues are Western Europe, Asia and North America.
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, actual future developments and results can differ significantly from these assumptions and estimates due to a variety of factors. These factors can, for example, include changes in the overall economic climate, changes in procurement prices, changes in exchange rates and interest rates, and changes within 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.
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