Germany’s Fuchs Group has announced that it will acquire Nulon Products Australia, and intends to keep both local production and all 65 roles at the Australian maker of automotive lubricants.
A statement from Fuchs said an agreement had been signed, and it expects to close in the beginning of the second quarter. According to the statement, it is part of local arm Fuchs Australasia’s move into automotive retail.
“This acquisition is a very strong fit for both Fuchs and Nulon,” Wayne Hoiles, Managing Director of Fuchs Australasia, said in a statement.
“It’s two family-run businesses coming together. Fuchs’ strong research and development capabilities will enhance the innovation platform that Nulon is best known for. Fuchs is looking forward to welcoming the Nulon team into the Fuchs family.”
Nulon has revenues of around $40 million annually. It was established in Sydney in 1980 and products include lubricants, coolants and additives.