Germany’s FUCHS PETROLUB is acquiring Chevron’s global white oils and food machinery specialty lubricants business. The business will be integrated into FUCHS Lubricants Co. (USA). This Chevron business had sales of EUR 11 million (USD 12.63 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 Co.
“The acquisition and new marketer partnerships will significantly improve the scale for support for food grade lubricant customers,” he said.
“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,” he said.
The parties expect the transaction will be effective June 1, 2016.
In 2015, the FUCHS Group had sales of EUR 2.1 billion (USD 2.41 billion), with staff of 4,823 people globally. FUCHS Lubricants Co. (USA) had sales of EUR 263 million (USD 302.04 million) with 349 employees.