FUCHS Group acquires 50% shares of 3 top distributors based in Africa
JOHANNESBURG - The FUCHS Group, which operates globally in the lubricants industry, says it has acquired 50 percent of the shares of three distributors based in Zimbabwe, Zambia and Mozambique.
In a statement the company, which has been working with these partners for more than 15 years, said after the recent establishment of a FUCHS entity in Tanzania, these acquisitions further strengthened its footprint in sub-Saharan Africa.
The joint ventures employ 90 people and generated sales of around 21 million euros in the 2018 financial year.
“Customers in these countries, who require lubricants and services in fields like mining, commercial vehicle fleets, general industry, agriculture, food and beverage, consumer products and other specialty applications will benefit locally from even stronger lubricants focus supported by international resources,” said FUCHS executive vice president Alf Untersteller.
FUCHS executive board chairman Stefan Fuchs said the company had invested significantly in South Africa through the acquisitions of lubricant firms Lubritene, Lubrasa and Optiflow in 2014 and investment in a state of the art, fully automated grease manufacturing plant which opened in 2018 at its manufacturing hub in Isando, Johannesburg.
“This will supply markets in Africa and is also part of our current global growth initiative investing in existing and new plants focused on capacity increase in line with advanced technology. Further plant expansions are already being planned.” said Fuchs.
- African News Agency (ANA)