Fuchs Petrolub, known for manufacturing a such oil-based products as Fuchs WSP 783-L, recently announced its purchase of Statoil Fuel & Retail (SFR) Lubricants.
It purchased the firm from Couche-Tard Luxembourg S.A.R.L., which is an indirect subsidy of Alimentation-Couche Tard inc.
Statoil Fuel & Retail Lubricants is among Scandinavia’s premier lubricant providers, but is also a well-known industry name in many countries, including Russia, Poland and the Baltic nations.
The company primarily manufactures lubricants for the industrial and automotive industries, and focuses on the production of specialist lubricants.
Fuchs’ latest acquisition will go a long way to strengthen the company’s visibility in Scandinavia, where it is striving to establish itself among the leading manufacturers of lubricants in the region.
Fuchs has been exerting its efforts on expanding its position in the lubricants market, and is currently focusing on bolstering its standing in Baltic Europe.
The acquisition of SFR lubricant products will complement Fuchs Petrolub’s current portfolio, but the company is still keeping a keen eye on the market for other opportunities that may help it to further expand into new markets and territories, outside of its current strongholds.
According to the company’s chief executive Stefan Fuchs, who spoke about his company’s ambitions in a recent interview with German magazine Euro am Sonntag, the company has a plan to boost organic growth by spending more on new facilities and further research and development, of which this recent acquisition was just a small part.