Germany’s FUCHS Group, which operates globally in the lubricants industry, signed an agreement to acquire Nye Lubricants Inc. in October 2019. The Fairhaven, Massachusetts, U.S.-based manufacturer is a leader in the innovation, formulation and manufacturing of synthetic lubricants.
After having received all the required regulatory approvals, the acquisition was closed on 24 January 2020. With this acquisition the FUCHS Group further expands its specialty lubricants product portfolio, offering engineered solutions across multiple markets while creating opportunities to serve new high-end, critical applications. The business will continue to be operated out of its Fairhaven, Massachusetts, location.
Nye employs 180 people and generated USD51 million in sales in fiscal year 2018, throughout North America, Europe and Asia.
In 2018, the FUCHS Group accounted for EUR2,567 million (USD2,829 million) sales with staff of 5,446. FUCHS LUBRICANTS CO. (USA) generated sales of EUR284 million (USD313 million) with 420 employees.