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FUCHS Announces JV In Egypt - Quick Facts

FUCHS (FUPEF.PK) announced the foundation of a new joint venture in Egypt, FUCHS EGYPT LUBRICANTS LLC. The new entity is founded by FUCHS OIL MIDDLE EAST LTD, a joint venture between FUCHS PETROLUB SE and ALHAMRANI Group of Saudi Arabia.

FUCHS EGYPT LUBRICANTS LLC is a startup sales company. Its main offices and central warehouse are in Cairo, with supplies based on product imports from Saudi Arabia and Europe.

"Egypt is one of the three largest economies in Africa by GDP, and one of the most industrialized markets on the continent. FUCHS and our partner ALHAMRANI see Egypt as strategic, to operate closely with clients in fields like Industrial, Commercial Fleet and Automotive Retail," said Alf Untersteller, responsible for Turkey, Africa and Middle East in the FUCHS Group.

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