Fuchs Group sold its share in Swiss lubricants company Motorex AG Langenthal to Motorex-Bucher Group AG, the company announced last Thursday. The Germany-based lubricants manufacturer said it wants to compete in the Swiss lubricants market using its own brand.
The 50 percent stake was sold back at 17 million Swiss Francs (U.S. $17.1 million), ending a partnership between the two companies of over 40 years. Fuchs described Motorex as a joint venture between them and Motorex-Bucher Group, with the partnership focused on the distribution of industrial lubricants under the Motorex brand. Fuchs declined to comment on the timing of the sale.