The Hindu Business Line : Fuchs plans $-2m spend on marketing

FUCHS Lubricants, a wholly-owned subsidiary of Fuchs Petrolub AG, of Germany plans to invest $2 million (about Rs 9.05 crore) in its India operations next month.

The fund will be mainly invested in expanding its marketing networks.

The company plans to increase its market share, especially, in niche areas of specialty lubricants, where it has registered a seven per cent growth, Mr Kersi Hilloo, Managing Director, Fuchs Lubricants (India), told presspersons here.

"The company has achieved a turnover of Rs 50 crore this year, and expects it to touch Rs 100 crore in three years," he added.

Dr Manfred Fuchs, principal shareholder of Fuchs Petrolub AG, said: "India is the sixth largest lubricant market in the world, and the company is open to acquisitions."

The company was focusing on high-end lubricants market in India where it has a significant share in certain segments, he said, adding that the company had about 90-100 per cent share in the coal mining lubricants and about 80 per cent in the cement grid.

With full access of technology for its products from the parent company, Fuchs is preparing to bring many more specialised products, from 8,500 strong basket of Fuchs product worldwide, to India.

The company is a registered OEM manufacturer with Hindustan Motors, Ashok Leyland and Mercedez Benz, and currently markets automotive lubricants under the brand names Titan and Silkolene.