Fuchs acquires Ovoline lubricants business in the United Kingdom
Fuchs Petrolub acquired the 'Ovoline' lubricants business of Brett Oils Ltd's through its UK subsidiary Fuchs Lubricants (UK) PLC in Stoke-on-Trent. Brett Oils is a family business established in 1877 with its headquarters in Gateshead in the North East of England. Brett Oils' lubricants business generated sales of around EUR 13 million in the 2003/2004 financial year. The acquisition includes the company's customers, its know-how, trademark rights and net current assets. Existing Brett Oils' production sites do not form part of the acquisition. A manufacturing agreement with Brett Oils post completion will ensure the smooth transition to Fuchs UK's own production at the Stoke-on-Trent location.
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