The FUCHS Group, which operates globally in the lubricants industry, has expanded its presence in South America with the full acquisition of FUCHS LUBRICANTS SpA in Chile. On September 1, 2023, the joint venture seamlessly transitioned into a wholly owned subsidiary of the FUCHS Group.
FUCHS LUBRICANTS SpA was founded in 2018 when FUCHS acquired the lubricants business of Comercial Pacific Ltda in Chile and integrated it into the newly founded company – with FUCHS holding 65% of the shares at that time and Comercial Pacific Ltda the remaining 35%.
“We thank our joint venture partner Andre Boeck and the team of Comercial Pacific for our successful time together. With Chile being an important lubricant market in South America, this transaction is another milestone on our journey to further strengthen our business activities in the Southern part of the Americas,” states Dr Timo Reister, Member of the Executive Board at FUCHS and responsible for the North and South America region.
Yasser Majluf, Managing Director of FUCHS Lubricants SpA in Chile, adds: “The Chilean lubricant market offers significant potential for FUCHS. We see a strong trend towards high performance lubricants. With our growing local FUCHS team in Chile, we are happy to support our expanding customer base in segments like mining, food, wind power and automotive.”
