Effective 1 January 2005, FUCHS PETROLUB AG in Mannheim, with international operations in the lubricant sector, acquired the 'Ovoline' lubricants business of Brett Oils Ltd's [Brett Oils] through its UK subsidiary FUCHS LUBRICANTS (UK) PLC [FUCHS UK] in Stoke-on-Trent. Brett Oils is a family business established in 1877 with its headquarters in Gateshead in the North East of England.
Brett Oils' lubricants business generated sales of around € 13 million in the 2003/2004 financial year. The acquisition includes the company's customers, its know-how, trademark rights and net current assets. Existing Brett Oils' production sites do not form part of the acquisition. A manufacturing agreement with Brett Oils post completion will ensure the smooth transition to FUCHS UK's own production at the Stoke-on-Trent location.
The Ovoline business and its products enhance the existing range of products offered by FUCHS UK in the automotive lubricants sector whilst at the same time the industrial lubricants business is expanded with lubricants for wire rope protection. This acquisition allows the FUCHS PETROLUB group to strengthen its lubricants business in the United Kingdom.
FUCHS UK employs 318 people and generated sales of around € 113 million in the automotive and industrial lubricants in the financial year 2004. FUCHS PETROLUB generates sales of around € 1.1 billion with 4,185 employees.
Mannheim, 7 January 2005
FUCHS PETROLUB AG
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Phone.: +49 (0)621 3802 - 105
This Press Release can also be retrieved on the internet at www.fuchs-oil.de.