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FUCHS acquires Chemicals Process Management business in North America

FUCHS acquires Chemicals Process Management business in North America

DGAP-News: FUCHS PETROLUB SE / Key word(s): Acquisition

01.11.2019 / 18:21
The issuer is solely responsible for the content of this announcement.

FUCHS acquires Chemicals Process Management business in North America

The FUCHS Group, which operates globally in the lubricants sector, is acquiring the business of ZIMMARK INC. The Burlington, Ontario, Canada based company is a service company offering value added services in the lubricants and Chemicals Process Management (CPM) space.

With this acquisition the FUCHS Group expands its service portfolio in the industrial lubricant market and will deploy its processes where applicable throughout its other global divisions. The business will operate as a separate Chemicals Process Management (CPM) Division of FUCHS' North American industrial business.

"Today's larger sophisticated customers are looking for an integrated partnership with their lubricant supplier inclusive of a service offering complimenting a fluid solution to their challenges. FUCHS offers many Chemicals Process Management (CPM) programs throughout Europe and China. We will use ZIMMARK's Technical Process Management (Z-TPM), focusing on rigorous control plans, as a nucleus to grow the service component of the business in the United States," says Keith Brewer, President & CEO of FUCHS LUBRICANTS CO., USA. "The acquisition, and especially the ZIMMARK team, will significantly enlarge our service offering capability to existing business along with offering value added services to new customers using FUCHS' marketplace presence."

The transaction will be effective November 1, 2019.

ZIMMARK employs 60 people and generated EUR 4 million in sales in its fiscal year 2018, all of that in North America.

In 2018 the FUCHS Group accounted for EUR 2,567 million sales with staff of 5,446. FUCHS LUBRICANTS CO., USA made EUR 284 million sales with 420 employees.

Mannheim, November 1, 2019

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The following information is available online:
Image and video material: www.fuchs.com/group/mediagallery

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 around 5,500 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.

Important note
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.

01.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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