Fuchs acquires Shell food lubes
German-based lubes specialist, Fuchs Petrolub AG, has acquired Shell's food grade lubricants business.
The takeover, announced by Fuchs at the beginning of August, will take effect from 1st October this year, and sees the German company strengthening its specialist lubricants business through the acquisition from UK-based Shell International Petroleum.
As an asset deal, Fuchs will acquire the production technology and the Cassida food lubes brand, along with a 12-strong R&D and global marketing team and the product's customer base.
Although having a food lubes business itself for some 15 years, the expansion is set to add around €21m ($28m) in revenues to Fuchs' business, based on 2009 figures for global Cassida sales generated from the food, beverage and pet food sectors.
Published 13th August, 2010
