
Global lubricant maker Fuchs has announced that it has agree to purchase LUBCON Group, a family-run firm based in Maintal in Hessen, Germany.
LUBCON Group has considerable experience in developing, manufacturing, distributing and marketing various lubricants, such as oil and grease.
Fuchs believes the acquisition will help drive the development of leading speciality lubricant products, enhance the company’s global competitiveness and expand its portfolio of speciality lubricants.
The LUBCON Group’s advanced products have applications in a number of sectors, such as in rail transport and the paper, pharmaceutical, textiles, wind and food industries. The group consists of 13 subsidiaries with manufacturing facilities, not just in Germany but also Poland, the United States, India and the Philippines.
Fuchs Chairman Stefan Fuchs said that the company sees great potential for its future in the acquisition, adding:
“We’re not only gaining a team of highly qualified employees with extensive technological expertise, but also extending our own product portfolio, particularly in the field of industrial lubricants and greases. This not only strengthens our existing key markets but also enables us to penetrate new markets.”
He added that the company was sure that the acquisition would bolster its position as a prominent supplier of lubricant products.
The LUBCON Group’s Managing Partner, Heiko Engelke, also expressed his belief that the combination of the two companies will be able to grow even more effectively on a global scale.
The deal is expected to be completed in the third quarter of this year, subject to regulatory approval.