Global lubricants supplier FUCHS Group has expanded its presence in South America with the full acquisition of Fuchs Lubricants SpA in Chile.
The deal, made via a joint venture that will make the location a wholly owned subsidiary, was made 1 September.
Fuchs Lubricants SpA was initially founded in 2018 when FUCHS acquired the lubricants business of Comercial Pacific in Chile and integrated it into the newly founded company. At that time, the company held 65% of the shares and Comercial Pacific the remaining 35%.
“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,” said Timo Reister, FUCHS executive board member and overseer of the North and South America region.
Yasser Majluf, managing director of Fuchs Lubricants SpA, said 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.”