Fuchs India opens lube plant near Mumbai

Fuchs Lubricants opened a new 20,000 ton per year lube blending plant in Ambernath near Mumbai, India. The company has invested close to Rs40 crore (US$8.9 million) in the plant and will invest an additional Rs10 crore (US$2.22 million) next year for the second stage of plant construction. Stefan Fuchs, chairman of the Executive Board of Fuchs Petrolub AG, said, “India is a key country for us. Almost 30% of our global sales happen in Asia in which India plays a significant role. We are focused on domestic production in the country.” He added that the company also plans to set up a world-standard R&D hub in India. Fuchs said that while the company’s main focus continues to be organic growth, it will also keep an eye for acquisitions. (December 11,2010)