Fuchs Reports Strong Year


Fuchs Petrolub AG posted 171.6 million (U.S. $236 million) in earnings on full-year 2010 sales revenues totaling 1.5 billion, up from 2009 earnings of 121.4 million on sales of 1.2 billion.

Cash flow hit 77.1 million after acquisition payments for Shells food grade lubricants business in October 2010, and the financing of Fuchs growth in revenues. That compared with a record 180 million cash flow in 2009, Fuchs reported.

The Mannheim, Germany-based independent lubricant blender said it plans further revenue growth in 2011.

New recruitments with a focus on research and sales as well as the expansion of the group infrastructure are the basis for future organic growth, Fuchs stated. Considering the worldwide increase in raw material prices, increased geopolitical risks and the planned increase in personnel and other costs, the group strives to tie on to the record earnings before interest and taxes [250 million] recorded in 2010.

Fuchs will issue complete financial statements for 2010 on March 24.

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