FUCHS strengthens speciality business by acquiring the lubricants business of GLEITMO TECHNIK AB, Sweden
FUCHS has today signed an agreement to acquire the lubricants business of Gleitmo Technik AB in Kungsbacka, Sweden, as of July 1, 2021, and will integrate it into its subsidiary FUCHS LUBRICANTS SWEDEN AB.
FUCHS acquires 100% of the shares in Gleitmo Technik AB through a Share Purchase Agreement which includes the customer base, the product portfolio, the workforce and a lease agreement of the Gleitmo office and warehouse in Kungsbacka in particular.
The bundling of sales channels makes FUCHS LUBRICANTS SWEDEN AB a central and authoritative partner for all lubricants and related specialties in Sweden and the Nordic Region.
As a longstanding trading partner of FUCHS, Gleitmo Technik AB generated sales revenues of around EUR 6 million in the financial year 2020. The company currently employs ten people.