German founded company Fuchs Lubricants, the world's largest independent lubricants manufacturer with a turnover of $2.6 billion, has acquired Lubritene and Lubrasa, both specialized lubricant manufacturing companies in South Africa and Australia.
Lubritene and Lubrasa manufacture high performance specialized lubricants such as greases, compounds and oils for the mining, industrial, drilling, food and other commercial industries. In the mining industry the product applications include drilling, draglines, rope shovels and haul truck lubrications.
"This is a significant acquisition for the Group and for the local Fuchs subsidiaries," said Alf Untersteller, member of the Fuchs Group Management Committee based in Mannheim, Germany.
"It will enable the Fuchs Group to enter new markets worldwide and provide export opportunities for the local subsidiary. The Group's 39 manufacturing plants situated around the world will be utilized to manufacture and distribute this well-known and established product range, and will benefit from Fuchs' leadership in technology, innovation and specialization."
"Research and development are key factors in our success. There are currently 385 engineers, chemists and scientists engaged in R&D around the globe developing new products and assisting customers in solving problems based around an annual R&D budget of over $46 million."
"Because the Fuchs Group has a strong balance sheet and is debt free, with five years of successive record profits up to 2013 as well as a record first quarter of 2014, funding for the acquisition, ongoing expansion and R&D will come completely from internal sources" said Mr Untersteller.
"The products acquired will be made available to Fuchs' 100,000 customers worldwide, opening new markets for the Group."
"The Australian acquisition will complement our strong focus in the mining sector to deliver high quality products and services to our existing customers as well as potential new customers. The culmination of Lubritene's specialized products and experienced employees will make Fuchs a more powerful team in the mining sector" said Fuchs Australasia's Managing Director, Wayne Hoiles.
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