DGAP-News: FUCHS PETROLUB SE / Key word(s): Mergers & Acquisitions
FUCHS acquires White Oils and Food Machinery Lubricants Business from
Chevron
03.05.2016 / 10:19
The issuer is solely responsible for the content of this announcement.
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FUCHS acquires White Oils and Food Machinery Lubricants
Business from Chevron
Global lubrication specialist FUCHS PETROLUB is expanding by taking over
the worldwide white oils and food machinery specialty lubricants business
of Chevron. The business will be integrated into FUCHS LUBRICANTS CO.
(USA). The Chevron business had sales of EUR 11 million in 2015,
approximately 85% of which are in North America.
"Food Grade customers require support in the areas of Food Safety,
Preventative Maintenance and Lubricant Technology. FUCHS has developed a
successful program around the CASSIDA brand and complementary services,"
said Steve Puffpaff, CEO of FUCHS LUBRICANTS COMPANY. "The acquisition and
new marketer partnerships will significantly improve the scale for support
for Food Grade Lubricant customers."
"We believe this change will benefit our customers and marketers as FUCHS
is a leader in these specialty segments and can meet their needs with an
expanded food machinery product line," said Brian Stripling, General
Manager Brand, Technology & Original Equipment Manufacturer (OEM), Chevron
Products Company, a division of Chevron U.S.A. Inc. "Chevron values our
customer relationships and we are committed to a smooth and seamless
transition to FUCHS."
The parties expect the transaction will be effective June 1, 2016.
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, May 3, 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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03.05.2016 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.
Media archive at www.dgap-medientreff.de and 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; Terminbörse EUREX
End of News DGAP News Service
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460135 03.05.2016
DGAP-News: FUCHS acquires White Oils and Food Machinery Lubricants Business from Chevron
| Source: EQS Group AG