FUCHS Acquires Full Ownership of OPET FUCHS in Türkiye
- FUCHS will acquire OPET's 50% stake in OPET FUCHS, completing by April 2026.
- The joint venture, founded in 2005, expanded to automotive lubricants in 2011.
- A new plant was built in Aliaga, Izmir, in 2019.
- The company expects revenue of approximately EUR 100 million this year.
Acquisition Details
FUCHS Group has signed an agreement to acquire OPET's 50% stake in the OPET FUCHS joint venture, based in Istanbul, Türkiye. This acquisition will give FUCHS full ownership, and the company will operate under the name FUCHS LUBRICANTS TÜRKIYE. The transaction is expected to be finalized by the end of April 2026.
Strategic Importance
The acquisition aims to strengthen FUCHS' market position in Türkiye, a region of strategic importance due to its market size, industrial base, and growth prospects. Türkiye is central to FUCHS' operations in the industrial, OEM, mining, and automotive aftermarket sectors. Full ownership will allow FUCHS to implement strategic decisions more swiftly and capitalize on growth opportunities.
Joint Venture History
Founded in 2005, the OPET FUCHS joint venture initially focused on industrial business. In 2011, it expanded to include automotive lubricants, offering a full range of products. A new plant was constructed in Aliaga, Izmir, in 2019, incorporating FUCHS' global expertise in its design and operation.
Future Prospects
The company employs around 250 people and anticipates generating approximately EUR 100 million in revenue for the current financial year. Despite the acquisition, the previous joint venture partners plan to continue their commercial partnership.
Source: Fuchs SE