DGAP-News: FUCHS PETROLUB SE / Key word(s): Takeover
FUCHS acquires industrial oils specialist in the United States
01.08.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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FUCHS acquires industrial oils specialist in the United States
FUCHS PETROLUB SE, which operates globally in the lubricants sector, is
acquiring ULTRACHEM INC. The Delaware-based company is well known as
producer and marketer of specialty synthetic lubricants for the compressor
OEM and industrial maintenance markets for over 40 years.
With this acquisition the FUCHS Group expands its portfolio in the field of
industrial specialty lubricants in the United States. The business will
continue to be operated out of its New Castle, Delaware location.
ULTRACHEM employs 25 people and generated sales of EUR 15 million in its
fiscal year 2015/2016, almost all of that in North America.
"Industrial oils specialties is a core focus product segment and has been
an area of interest to us for quite some time. FUCHS has a leading position
in Europe and we will use ULTRACHEM as a nucleus to grow the business in
the United States," said Steve Puffpaff, CEO of FUCHS LUBRICANTS CO. (USA).
"The acquisition, and especially the ULTRACHEM team, will significantly
enlarge our existing business and will help to grow it using FUCHS know-how
and marketplace presence."
Closing is expected to take place in the fourth quarter of 2016 at the
latest.
In 2015, the FUCHS Group accounted for EUR 2.1 billion sales with staff of
4,823. FUCHS LUBRICANTS CO. (USA) made EUR 263 million sales with 349
employees.
Mannheim, August 1, 2016
FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 (0)621 3802-1104
tina.vogel@fuchs-oil.de
www.fuchs.com/group
About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and
related specialties for virtually all industries and areas of application.
The company, which was founded in Mannheim in 1931, employs around 5,000
people worldwide at 60 operating companies. FUCHS is the world's largest
independent lubricant manufacturer. The most important markets in terms of
sales revenues are Western Europe, Asia and North America.
Important note
This press release contains statements about future developments that are
based on assumptions and estimates by the management of FUCHS PETROLUB SE.
Even if the management is of the opinion that these assumptions and
estimates are accurate, future actual developments and future actual
results may differ significantly from these assumptions and estimates due
to a variety of factors. These factors can, for example, include changes in
the overall economic climate, changes in procurement prices, changes to
exchange rates and interest rates, and changes within the lubricants
industry. FUCHS PETROLUB SE provides no guarantee that future developments
and the results actually achieved in the future will match the assumptions
and estimates set out in this press release and assumes no liability for
such.
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01.08.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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: ir@fuchs-oil.de
Internet: www.fuchs-oil.de
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
End of News DGAP News Service
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488037 01.08.2016
DGAP-News: FUCHS acquires industrial oils specialist in the United States
| Source: EQS Group AG