Fuchs Petrolub AG / Miscellaneous/Miscellaneous
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Restriction notice: Free for publication up from August 6, 2008, 10.00
a.m.
FUCHS invests €70 million for the expansion of research and development,
the strengthening of its specialty business and the creation of additional
capacities in the growth markets of Brazil, China and IndiaHS invests €70
million for the expansion of research and development, the strengthening of
its specialty business and the creation of additional capacities in the
growth markets of Brazil, China and India
Further expansion of the Mannheim site for over €20 million ther expansion
of the Mannheim site for over €20 million.
The FUCHS PETROLUB Group, which operates globally in the lubricants sector
has enjoyed a successful past six years and is continuing this success.
Profit after tax has risen by more than 30% a year on average. At the same
time, existing debts have almost been repaid in full and the balance sheet
has been strengthened. FUCHS PETROLUB will build on this by investing in
the future and in its global infrastructure from 2008 to 2010. Through this
investment initiative FUCHS is underlining its trust in the high
performance, quality and productivity of its global activities.
The worldwide investment initiative of FUCHS PETROLUB comprises a
comprehensive package of measures. In accordance with these a new lubricant
plant will be opened in Shanghai in August 2008. Not only does the new
location represent the headquarters of FUCHS' activities in China, it will
also be the center of the FUCHS Group's research and development in Asia.
In March a large site was purchased near Mumbai, India, for which the first
stages of construction for a plant with laboratory and office space will
begin at the end of this year. In Brazil the FUCHS Group is searching for a
large new site, in order to relocate and modernize the existing plant in
the Greater Sao Paulo area which is much too small. On August 6, 2008 the
groundbreaking for the global headquarters of the specialty business FUCHS
LUBRITECH Group with new laboratory and administration buildings will take
place in Kaiserslautern.
This investment package is complemented by the planned construction
projects at the home site in Mannheim. FUCHS EUROPE SCHMIERSTOFFE will
further expand its main plant and so create the necessary infrastructure
for continued success in the future and at the same time strengthen its
position as competence centre of the FUCHS Group. The largest manufacturing
facility in the Group will become more efficient and gain attractivity in
the Rhein-Neckar metropolitan area. The investment in the Mannheim site
will exceed €20 million. Start of construction is scheduled for mid 2009.
The purchase of an almost 12,000 m² site from Röhrenlager Mannheim GmbH, on
August 1, 2008 is the basis for the construction project. This purchase
gives FUCHS over 106,000 m² on the Friesenheim Island. The key focus of the
FUCHS EUROPE SCHMIERSTOFFE construction project will be the building of a
new technology and sales and marketing center with new office and
laboratory space, as well as an increased capacity of the test rigs. In
addition to this, previously separate parts of the site will be connected
to each other.
A new laboratory building will be the core of the technology center, which
will create additional capacity in the field of metal-working fluids and
will take into account the large increase in analytical activity in the
service and quality laboratory. The new laboratory building will include
space for our research activities in metal-working, corrosion protection,
advance development, quality control, technical service and knowhow
transfer. The new building will be located near the €6 million laboratory
space created in 2003 for automotive lubricants and industrial oils.
The test bench area will be enlarged and capacities increased in order to
expand the development of new products by simulating their application. The
existing test bench, the fundamental component of the technology-driven new
development of future-oriented lubricants, was only constructed in 2003 and
is now to be expanded.
As research and development activities in Mannheim play a decisive role for
the entire Group, this investment will secure the future of FUCHS as a
technological leader in strategically important areas of application.
The number of employees at FUCHS EUROPE SCHMIERSTOFFE in Mannheim has
increased by 15% since 2002. The construction of the new sales and
marketing center enables us to bring the scattered departments of internal
sales, product management and marketing together under one roof. The new
building provides space for 140 workplaces. Additional meeting rooms and a
large conference room form the basis of the customer center.
The FUCHS PETROLUB Group achieved sales revenues of €1.4 billion in 2007.
As at June 30, 2008 the Group employed 3,900 employees worldwide including
over 600 employees at the Mannheim site.
Mannheim, August 6, 2008
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel.: ++49 (0) 621 3802 – 105
This press release is also available on the internet at
htthttp://www.fuchs-oil.dep://www.fuchs-oil.de.
Important note
This press release contains statements about future developments that are
based on assumptions
and estimates by the management of FUCHS PETROLUB AG.
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 AG provides no guarantee that
future developments and the results actually achieved in the future will
agree with the assumptions and estimates set out in this press release and
assumes no liability for such.
06.08.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Fuchs Petrolub AG
Friesenheimer Str. 17
68169 Mannheim
Deutschland
Phone: +49 (0)621 / 3802-0
Fax: +49 (0)621 / 3802-190
E-mail: contact-de.fpoc@fuchs-oil.de
Internet: www.fuchs-oil.de
ISIN: DE0005790406, DE0005790430
WKN: 579040, 579043
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
End of News DGAP News-Service
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