DGAP-News: Fuchs Petrolub AG / Key word(s): Joint Venture
Fuchs Petrolub AG: FUCHS extends its joint venture in Turkey to
include the business with automotive lubricants
11.01.2012 / 09:30
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FUCHS extends its joint venture in Turkey to include the business with
automotive lubricants
At the start of 2005 FUCHS PETROLUB founded together with its Turkish
partner OPET the 50:50 joint venture OPET-FUCHS. The sales company which
focuses on industrial lubricants and related specialties generated sales
revenues of EUR 17 million in the financial year 2011.
With effect from January 2, 2012 OPET-FUCHS has acquired the automotive
lubricants business from OPET. The joint venture also took over all 176
employees of this division as well as the lubricant blending plant in
Izmir. Based on the year 2011 the extended joint venture generated sales
revenues of just under EUR 80 million. This acquisition means that all
lubricant activities of the partners operating in Turkey are now
incorporated within the joint venture. With its 214 employees OPET-FUCHS
has assumed a leading position among lubricant manufacturers in the
important growth market of Turkey.
OPET-FUCHS is set to begin construction work on a new lubricant blending
plant near Izmir this year. Following the initial construction phase this
facility will have a production volume of 50,000 tons and replace the
previous facility.
OPET, a joint venture of the KOà Group and the Ãztürk family, is the third
largest mineral oil company in Turkey and operates more than 1,200 filling
stations. With over 70,000 employees the KOÃ Group is a renowned partner.
OPET was founded by the Ãztürk family and successfully expanded before the
merger with KOÃ took place.
FUCHS is the world's largest independent marketer of lubricants and related
specialties. The FUCHS PETROLUB Group generated sales revenues of EUR 1.5
billion and profit after tax of EUR 172 million in the financial year 2010.
FUCHS currently has 3,710 employees worldwide.
Mannheim, January 11, 2012
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Germany
Tel.: ++49 (0) 621 3802-1124
E-Mail: tina.vogel@fuchs-oil.de
The press release can be accessed at the following web address:
www.fuchs-oil.com
Important note
This press release contains statements about future developments that are
based on assumptions and estimates by the management of FUCHS PETROLUB AG.
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 include changes in the overall
economic climate, changes to exchange rates and interest rates, and changes
in the lubricants industry. FUCHS PETROLUB AG provides no guarantee that
future developments and the results actually achieved in the future will
agree with the assumptions and estimates set out in this press release and
assumes no liability for such.
End of Corporate News
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11.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Fuchs Petrolub AG
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: DE0005790406, DE0005790430
WKN: 579040, 579043
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
End of News DGAP News-Service
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152313 11.01.2012
DGAP-News: Fuchs Petrolub AG: FUCHS extends its joint venture in Turkey to include the business with automotive lubricants
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