Germany’s Fuchs Group acquires U.S. silicone lubricant manufacturer
German independent lubricant manufacturer Fuchs Group, which operates globally in the lubricants industry, has acquired PolySi Technologies Incorporated. The Sanford, North Carolina, U.S.A., manufacturer is an innovative leader in the formulation and manufacturing of silicone lubricants. The Fuchs Group further expands its specialty lubricants product portfolio, offering engineered solutions across multiple markets while creating opportunities to serve many critical applications.
“For 25 years, PolySi’s mission has been to work closely with our customers to develop leading edge products to solve any lubrication challenge. Our consultative approach to grease formulation has offered value to our customers in many industries, including automotive, electrical, plumbing and medical. Integrating with Fuchs will serve to further the reach of our products to the market through the Fuchs sales and distribution networks,” says Chuck Leuth, president of PolySi.
“PolySi expands our product and packaging offering into markets where silicone technology is utilised. PolySi’s core capabilities of technologically advanced products and consultative sales approach further enhances our value proposition to our customers in offering a full lubrication solution,” says Keith Brewer, president and CEO of Fuchs Lubricants Co., USA.
PolySi employs 21 people and generated USD9 million in sales in fiscal year 2019, mainly from North American sales.
In 2019, the Fuchs Group accounted for EUR2.572 billion (USD2.99 billion) sales with a staff of 5,627. Fuchs Lubricants Co. (USA) generated sales of EUR 294 million (USD342 million) with 478 employees.