DGAP-News: FUCHS acquires high-performance specialty synthetic lubricant manufacturer in the US
DGAP-News: FUCHS PETROLUB SE
/ Key word(s): Acquisition
FUCHS acquires high-performance specialty synthetic lubricant manufacturer in the US "Nye's mission is to partner with innovative companies and provide high-performance lubricants using our leading-edge technology and engineering expertise. It combines its integrity, proven experience and deep technical knowledge to solve its customers' toughest engineering challenges focusing on the automotive, medical, aerospace and in-vacuum industries," says George Mock, President of Nye. "We are very excited to have Nye join the FUCHS Group. While FUCHS and Nye operate in the same industries, the Nye product offering allows us to capitalize on additional high value-added applications. This furthers FUCHS' objective to be able to offer a full lubricant solution into our target markets," says Stefan Fuchs, Chairman of the Executive Board of FUCHS PETROLUB SE. "Nye brings specific engineering expertise and a design partnership approach to the customer relationship that is unique. We will use this approach and build upon it using our broad market penetration. The acquisition, and the Nye team, will significantly increase our R&D and engineering expertise while using FUCHS' supply chain and market presence to satisfy emerging customer needs," adds Keith Brewer, President & CEO of FUCHS LUBRICANTS CO., USA. The parties expect that the transaction will close towards the end of 2019. Nye employs 180 people and generated USD 51 million (approx. EUR 46 million) in sales in its fiscal year 2018, throughout North America, Europe and Asia. In 2018 the FUCHS Group accounted for EUR 2,567 million sales with staff of 5,446. FUCHS LUBRICANTS CO. (USA) generated sales of EUR 284 million with 420 employees. Mannheim, October 21, 2019 FUCHS PETROLUB SE The following information is available online: Important note
21.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | FUCHS PETROLUB SE |
Friesenheimer Str. 17 | |
68169 Mannheim | |
Germany | |
Phone: | +49 (0)621 / 3802-0 |
Fax: | +49 (0)621 / 3802-7190 |
E-mail: | [email protected] |
Internet: | www.fuchs.com/gruppe |
ISIN: | DE0005790430, DE0005790406 |
WKN: | 579043, 579040 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
EQS News ID: | 893529 |
End of News | DGAP News Service |
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893529 21.10.2019
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