FUCHS launches advanced facility in Ba Ria-Vung Tau, Vietnam
FUCHS Group, a global player in the lubricants sector, has inaugurated a new lubricant blending facility in Ba Ria-Vung Tau, located on the coast of Vietnam’s Southeast region. With a EUR9 million (USD9.67 million) investment, this plant aims to cater to the rising lubricant demand in the region, ensuring quicker responses to local needs. This move also broadens FUCHS’s product offerings in Vietnam, tapping into the nation’s robust market growth. The grand opening was held on September 14, 2023.
Spanning 20,000 square meters, the facility will undergo two development stages, with the first already finished. It houses offices, a laboratory, production and filling areas, a tank farm, and a warehouse. Presently, the facility can produce 20,000 tonnes annually, with potential expansion in the next phase. By the last quarter of 2023, FUCHS Vietnam plans to roll out a range of products, including automotive and industrial oils, metalworking fluids, and mining industry solutions.
Stefan Fuchs, chairman of FUCHS SE’s executive board, expressed gratitude towards their joint venture partner, Nguyen Mai Son, for his dedication to the brand and the Vietnamese market. He emphasised that their collaboration with STD & S Co., Ltd. has solidified FUCHS’s presence in this crucial market, setting the stage for further growth in Asia.
Adding to this, Daniel Henn, managing director of FUCHS Vietnam, said, “This marks a significant milestone for FUCHS Vietnam. As Vietnam emerges as a pivotal market with vast growth opportunities, we’re thrilled to bolster our local presence and offer enhanced solutions to our clientele.”
FUCHS’ journey in Vietnam
FUCHS initiated its Vietnamese journey in 2013 with a sales office. In 2021, they acquired a 70% stake in STD & S Co., Ltd.’s lubricant business, a specialty lubricant distributor in Vietnam. This acquisition was integrated into FUCHS LUBRICANTS VIETNAM COMPANY LTD, where STD & S Co., Ltd. retains a 30% share. By 2023’s end, the workforce is expected to grow to 35, with sales in 2022 reaching the mid single-digit million mark.
