FUCHS strengthens presence in South America with acquisition of lubricants business of Comercial Pacific Ltda.
Germany’s FUCHS Group, which operates globally in the lubricants industry, has acquired the lubricants business of Comercial Pacific Ltda. in Chile. FUCHS said the acquisition, which focuses in particular on the customer base and workforce of Comercial Pacific Ltda., will strengthen its presence in South America. The volume of the Chilean lubricants market is approximately 140,000 tonnes per year, FUCHS said.
Comercial Pacific Ltda. has established itself as a long-standing FUCHS distributor in Chile in the mining, food, paper and cellulose industries. The company employs 13 people in sales and application engineering. FUCHS did not disclose the volume of Comercial Pacific Ltda.’s lubricants business.
The acquired business will be integrated into a new company called FUCHS Lubricants SpA, which will assume responsibility for all existing FUCHS business in Chile. The FUCHS Group will hold 65% of the shares in the new company and Comercial Pacific Ltda. the remaining 35%. The market capitalization of the new company was not disclosed.
Comercial Pacific Ltda. is also the exclusive representative of Habasit, the main producer worldwide of power transmission belts, as well as flat, special and modular HabasitLINK conveyor belts.
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim, Germany, in 1931, the FUCHS Group employs more than 5,000 people worldwide at 58 operating companies. FUCHS Group is the world’s largest independent lubricant manufacturer. Its most important markets in terms of sales revenues are Western Europe, Asia and North America.
The transaction is not subject to regulatory approval, FUCHS said.