EQS-News: FUCHS further intensifies activities in South America and takes over 100% of FUCHS LUBRICANTS SpA in Chile
EQS-News: FUCHS SE
/ Key word(s): Acquisition
FUCHS further intensifies activities in South America and takes over 100% of FUCHS LUBRICANTS SpA in Chile The FUCHS Group, which operates globally in the lubricants industry, expands its presence in South America with the full acquisition of FUCHS LUBRICANTS SpA in Chile. On September 1, 2023, the joint venture seamlessly transitioned into a wholly owned subsidiary of the FUCHS Group. FUCHS LUBRICANTS SpA was founded in 2018 when FUCHS acquired the lubricants business of Comercial Pacific Ltda. in Chile and integrated it into the newly founded company – with FUCHS holding 65% of the shares at that time and Comercial Pacific Ltda. the remaining 35%. “We thank our joint venture partner Andre Boeck and the team of Comercial Pacific for our successful time together. With Chile being an important lubricant market in South America, this transaction is another milestone on our journey to further strengthen our business activities in the Southern part of the Americas,” states Dr. Timo Reister, Member of the Executive Board at FUCHS and responsible for the North and South America region. Yasser Majluf, Managing Director of FUCHS Lubricants SpA in Chile, adds: “The Chilean lubricant market offers significant potential for FUCHS. We see a strong trend towards high performance lubricants. With our growing local FUCHS team in Chile, we are happy to support our expanding customer base in segments like mining, food, wind power and automotive.” Mannheim, September 4, 2023 FUCHS SE The following information can be accessed via the Internet: Press release 2018: “FUCHS strengthens presence in South America with the acquisition of the lubricants business from Comercial Pacific Ltda., Chile“ Image and video material: https://www.fuchs.com/gb-en/photo-gallery/
About FUCHS
04.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | FUCHS SE |
Einsteinstraße 11 | |
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: | DE000A3E5D64, DE000A3E5D56 |
WKN: | A3E5D6, A3E5D5 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
EQS News ID: | 1718155 |
End of News | EQS News Service |
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1718155 04.09.2023 CET/CEST
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