Germany-based Fuchs SE will take full control of its lubricants joint venture with Opet in Turkey, the company announced. Upon closing, expected by the end of April, the business will be renamed Fuchs Lubricants Türkiye. Financial terms were not disclosed.
The country is a growing lubricants market, supported by a large industrial base, a developing automotive sector and solid long-term demand fundamentals. Automotive lubricants account for the largest share of consumption in the country, estimated at about 257 million liters in 2025.
Fuchs’ management said a wholly owned structure will streamline decision making and improve the company’s ability to capture expansion opportunities in a competitive market. Full ownership will also enable faster implementation of corporate strategy and closer alignment with group priorities.
Following completion of the transaction, Fuchs plans to further integrate the Turkish subsidiary into its global network while maintaining commercial ties with its former partner.
Engine oils remain the dominant product category by volume in Turkey. The lubricants market is concentrated, with bp Castrol, Fuchs, Petrol Ofisi, Shell and TotalEnergies controlling roughly 87% of market share.
The Opet Fuchs joint venture was formed in 2005 and initially focused on industrial lubricants. Opet is jointly owned by the Ozturk family and Koc Group, Turkey’s largest industrial and services conglomerate. Koc Group also owns Tupras, the country’s sole virgin base oil producer, as well as automotive partnerships with Ford Motor Company and Stellantis.
The partnership expanded into automotive lubricants in 2011, building a broad portfolio. In 2019, the company opened a production facility in Aliaga, Izmir, incorporating Fuchs’ laboratory and manufacturing capabilities.