FUCHS strengthens presence in Sub-Saharan Africa through joint ventures
The wholly owned FUCHS entity FUCHS SOUTHERN AFRICA has developed these three Sub-Saharan distributors over more than a decade. “The distributors have done an excellent job in building the FUCHS brand in their countries and the timing is now right for FUCHS to take an equity stake in the businesses. Additionally, FUCHS sees significant importance in the development of Africa, where it also contributes sizeable efforts to the sustainable social development of the continent,” says FUCHS SOUTHERN AFRICA Managing Director, Paul Deppe.
“FUCHS has invested significantly in South Africa in recent time through the acquisitions of LUBRITENE, LUBRASA and OPTIFLOW in 2014 and investments 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,” says Stefan Fuchs, Chairman of the Executive Board of FUCHS PETROLUB SE.
FUCHS has signed to acquire and expects closing in early 2020.
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