Fuchs, the global lubricant maker, has announced that it has finalised its acquisition of LUBCON Group following the signing of an agreement in April this year.
LUBCON was previously an international, family-run company run out of Maintal, Hessen in Germany. It has been developing, making, selling and distributing lubricant solutions for years. It therefore has extensive expertise and experience in supplying pastes, oils and greases to sectors like the wind, food, paper, textiles and pharmaceutical industries, as well as the railway sector.
Through its 13 operating companies, the LUBCON Group’s sales revenues amount to approximately €40 million. The group employs more than 200 employees and has five production sites.
Fuchs believes that incorporating this company into its own operations will provide substantial opportunities for developing its business and improving its global competitiveness in future. The acquisition was finalised after receiving all the relevant and necessary approvals, and Maintal, Hessen will continue to be the operational headquarters of LUBCON.
After the original acquisition agreement was signed, Fuch’s Executive Board Chairman, Stefan Fuchs, said:
“With the acquisition of the LUBCON Group, we see a great opportunity for our future development. 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.”
He added that it would reinforce the company’s current key markets and allow it to enter new markets. He also expressed the company’s confidence that its leading position as a lubricant supplier would be bolstered by this strategic move.
