FUCHS expands footprint in South America with Chile acquisition
The FUCHS Group, a global leader in the lubricants industry, has announced its full acquisition of FUCHS LUBRICANTS SpA in Chile, further solidifying its presence in South America. This move comes as part of FUCHS’s strategic plan to intensify its activities in the region.
Initially founded in 2018, FUCHS LUBRICANTS SpA emerged from FUCHS’s acquisition of the lubricants division of Comercial Pacific Ltda. At the outset, FUCHS held a majority stake of 65%, with Comercial Pacific Ltda. owning the remaining 35%. As of September 1, 2023, the joint venture has fully transitioned, making it a wholly-owned subsidiary of the FUCHS Group.
Dr. Timo Reister, a member of the Executive Board at FUCHS overseeing the North and South America regions, expressed gratitude towards their joint venture partner, Andre Boeck, and the Comercial Pacific team. “Chile is a pivotal lubricant market in South America. This acquisition marks a significant step in our mission to amplify our business endeavors in the southern Americas,” Reister said.
Yasser Majluf, managing director of FUCHS Lubricants SpA in Chile, shared his optimism about the future. “Chile’s lubricant market holds immense potential for FUCHS. We’re witnessing a surge in demand for high-performance lubricants, especially in sectors like mining, food, wind energy, and automotive. Our expanding local team in Chile is eager to cater to this growing clientele,” Majluf said.
Founded in 1931 in Mannheim, Germany, FUCHS has grown to become the world’s largest independent lubricants manufacturer, catering to a diverse range of industries and applications. With a workforce of more than 6,000 spanning more than 50 countries, FUCHS remains committed to its vision of driving the world forward sustainably and efficiently.