FUCHS successfully completes the acquisition of Nye Lubricants Inc., a high-performance specialty synthetic lubricant manufacturer in the US
The FUCHS Group, which operates globally in the lubricants industry, signed an agreement to acquire Nye Lubricants Inc. in October 2019. The Fairhaven, Massachusetts, manufacturer is a leader in the innovation, formulation and manufacturing of synthetic lubricants.
After having received all the required regulatory approvals, the acquisition was closed today. With this acquisition the FUCHS Group further expands its specialty lubricants product portfolio, offering engineered solutions across multiple markets while creating opportunities to serve new high-end, critical applications. The business will continue to be operated out of its Fairhaven, Massachusetts, location.
Nye employs 180 people and generated USD 51 million (approx. EUR 46 million) in sales in its fiscal year 2018, throughout North America, Europe and Asia.
In 2018 the FUCHS Group accounted for EUR 2,567 million sales with staff of 5,446. FUCHS LUBRICANTS CO. (USA) generated sales of EUR 284 million with 420 employees.
Mannheim, January 24, 2020
FUCHS PETROLUB SE
Friesenheimer Str. 17
Tel. +49 621 3802-1104
The following information is available online:
Press release "FUCHS acquires high-performance specialty synthetic lubricant manufacturer in the US" (October 10, 2019): https://www.fuchs.com/group/press/press-releases/company-business-finances/news-detail/view/2430-fuchs-acquires-high-performance-specialty-synthetic-lubricant-manufacturer-in-the-us/
Image and video material: www.fuchs.com/group/mediagallery
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs around 5,500 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its most important markets in terms of sales revenues are Western Europe, Asia and North America.
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, actual future developments and results can 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 in 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.