Fuchs creates new joint venture in Egypt
Further to recent intensifications of its Africa business with new operations in Tanzania, Zimbabwe, Zambia and Mozambique, Fuchs announced the foundation of a new entity in Egypt.
Fuchs Egypt Lubricants LLC is a startup sales company and fully operational from 2021. Main offices and a central warehouse are in Cairo, with supplies based on product imports from Saudi Arabia and Europe.
“Egypt is one of the three largest economies in Africa by GDP, and one of the most industrialized markets on the continent. Fuchs and our partner Alhamrani see Egypt as strategic, to operate closely with clients in fields like Industrial, Commercial Fleet and Automotive Retail,” states Alf Untersteller, responsible for Turkey, Africa and Middle East in the Fuchs Group.
The new entity is founded by Fuchs Oil Middle East Ltd., a joint venture between Fuchs Petrolub SE and Alhamrani Group of Saudi Arabia, Fuchs’ partner for numerous operations across Middle East and North Africa (MENA) since the 1980s.
Fuchs Egypt Lubricants LLC employs 23 people and is already supplying key customers in Egypt, who can now further build on a direct Fuchs operation in the country, supported by international resources.