Fuchs Petrolub announces first-quarter sales increasing by 12%

Germany’s Fuchs Petrolub SE, the largest independent lubricant manufacturer with global operations, reported first-quarter sales increasing by 12% to EUR 550 million (USD 623 million). Sales revenues increased organically by 2% and externally by 13% as a result of the acquisitions made in 2015, the company said.

“Our focus is on organic growth and further strengthening our market and competitive position worldwide. To this end we want to invest EUR 300 million (USD 340 million) in the expansion of existing facilities and the construction of new facilities until 2018,” said Stefan Fuchs, chairman of the Executive Board at FUCHS PETROLUB SE.

Europe enjoyed strong growth (+25%) as a result of acquisitions, the company said, with the region also growing organically (+2%), particularly in Central and Eastern Europe. The Asia-Pacific, Africa region recorded organic growth of 5%. Negative currency translation effects (-6%) canceled out this growth, however, while the North and South America region could not repeat its previous year’s sales revenues (-4%).