FUCHS PETROLUB SE

  • WKN: 579043
  • ISIN: DE0005790430
  • Land: Deutschland

Nachricht vom 12.03.2021 | 10:00

FUCHS expands its presence in Africa with a new joint venture in Egypt

DGAP-News: FUCHS PETROLUB SE / Key word(s): Miscellaneous
12.03.2021 / 10:00
The issuer is solely responsible for the content of this announcement.

FUCHS expands its presence in Africa with a new joint venture in Egypt

Further to recent intensifications of its Africa business with new operations in Tanzania, Zimbabwe, Zambia and Mozambique, FUCHS announces the foundation of a new entity in Egypt.

FUCHS EGYPT LUBRICANTS LLC is a startup sales company and fully operational from 2021. Main offices and a central warehouse are in Cairo, with supplies based on product imports from Saudi Arabia and Europe.

"Egypt is one of the three largest economies in Africa by GDP, and one of the most industrialized markets on the continent. FUCHS and our partner ALHAMRANI see Egypt as strategic, to operate closely with clients in fields like Industrial, Commercial Fleet and Automotive Retail," states Alf Untersteller, responsible for Turkey, Africa and Middle East in the FUCHS Group.

The new entity is founded by FUCHS OIL MIDDLE EAST LTD, a joint venture between FUCHS PETROLUB SE and ALHAMRANI Group of Saudi Arabia, FUCHS' partner for numerous operations across Middle East and North Africa (MENA) since the 1980s.

FUCHS EGYPT LUBRICANTS LLC employs 23 people and is already supplying key customers in Egypt, who can now further build on a direct FUCHS operation in the country, supported by international resources.

Mannheim, March 12, 2021

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 621 3802-1104

tina.vogel@fuchs.com
www.fuchs.com/group

The following information is available online:
Image and video material: https://www.fuchs.com/gb-en/photo-gallery/


About FUCHS
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Formed in Mannheim in 1931, the Group employs almost 6,000 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its most important markets in terms of sales revenues are Western Europe, Asia and North America.

Important note
This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS PETROLUB SE. Even if the management is of the opinion that these assumptions and estimates are accurate, actual future developments and results can differ significantly from these assumptions and estimates due to a variety of factors. These factors can, for example, include changes in the overall economic climate, changes in procurement prices, changes in exchange rates and interest rates, and changes within the lubricants industry. FUCHS PETROLUB SE provides no guarantee that future developments and the results actually achieved in the future will match the assumptions and estimates set out in this press release and assumes no liability for such.



12.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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