FUCHS SE / DE000A3E5D64
22.04.2024 - 16:30:08FUCHS acquires manufacturer for high-performance specialty lubricants
| FUCHS SE / Key word(s): Acquisition (news with additional features) 22.04.2024 / 16:30 CET/CEST The issuer is solely responsible for the content of this announcement. The FUCHS Group, which operates globally in the lubricants industry, has signed an agreement to acquire the international LUBCON Group, primarily with the aim of jointly innovating and advancing high-quality specialty lubrication solutions. The family-run German company that operates out of Maintal in Hessen, Germany has many years of experience and expertise in the development, manufacture, sale and distribution of greases, oils, and pastes. Accordingly, this step will help the FUCHS Group strengthen its product portfolio for specialty lubrication solutions, as well as boosting its global competitiveness - subject to the closing of the deal. The LUBCON Group comprises 13 operating companies, as well as five production locations in Germany, Poland, the Philippines, India, and the US. The company's high-quality products are used in various sectors, including the railway, roller bearings, paper, textiles, food, pharmaceutical and wind industries. "I feel confident that we can tap the growth potential of the LUBCON Group even more effectively on a global scale with the FUCHS network of 55 companies and 33 production facilities. We considered it extremely important to find the right partner for this and are looking forward to growing with FUCHS and safeguarding our future. As lubricant specialists, we not only operate in the same field, but are also both family-run enterprises, which strengthens our common values," comments Heiko Engelke, Managing Partner of the LUBCON Group. "With the acquisition of the LUBCON Group, we see a great opportunity for our future development. We're not only gaining a team of highly qualified employees with extensive technological expertise, but also extending our own product portfolio, particularly in the field of industrial lubricants and greases. This not only strengthens our existing key markets but also enables us to penetrate new sales markets. We feel certain that this strategic decision will further reinforce our position as leading supplier in the industry," comments Stefan Fuchs, Chairman of the Executive Board at FUCHS SE. The transaction is still pending approval from the cartel authorities. However, the parties anticipate closing the deal in the third quarter of 2024. The LUBCON Group employs 211 staff members, with 180 in EMEA, 20 in Asia-Pacific, and 11 in the Americas. The company recorded sales revenue of around EUR 40 million in the financial year 2023. The FUCHS Group has a workforce of 6,200 employees and generated sales revenue of EUR 3.5 billion in the financial year 2023. Mannheim, April 22, 2024 FUCHS SE Public Relations Einsteinstraße 11 68169 Mannheim Telefon +49 621 3802-1104 E-Mail: tina.vogel@fuchs.com The following information can be accessed via the Internet: Image and video material: https://www.fuchs.com/gb-en/photo-gallery/ About FUCHS Founded in 1931 as a family business in Mannheim, FUCHS is now the world's largest independent supplier of innovative lubrication solutions, covering almost every industry and application. Today, the company's 6,200 employees in over 50 countries still share the same goal: to keep the world moving both sustainably and efficiently. To live up to this claim, we think in terms of perfection, not merely standards. When developing individual solutions, we enter into an intensive customer dialogue – acting as an experienced consultant, innovative problem solver and reliable team partner. In 2023, the high-tech company generated revenue of EUR 3.5 billion with 33 production sites and 55 operating companies. Additional features: File: (from left) Stefan Fuchs, Heiko Engelke (LUBCON), Hedy Engelke (LUBCON), Dr. Ralph Rheinboldt 22.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | FUCHS SE |
| Einsteinstraße 11 | |
| 68169 Mannheim | |
| Germany | |
| Phone: | +49 (0)621 / 3802-0 |
| Fax: | +49 (0)621 / 3802-7190 |
| E-mail: | ir@fuchs.com |
| 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: | 1885273 |
| End of News | EQS News Service |
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