Fuchs likely to ramp up investment

Fuchs Lubricants Co, the $1.3 billion transnational lubricant manufacturer, is planning to invest about $ 2 million in its India operations in April.

The group, which focuses on the high end of the lubes market in the country, intends to further scale up investments "if volumes demand".

Kersi Hilloo, managing director of Fuchs Lubricants India, said : "We will invest about $2 million in India by next month and will substantiate it further next fiscal."

Hilloo pointed out that the Germany-based Fuchs group sees India and China as growth markets for their future plans and the group has planned an internal annual growth of 3 per cent.

The group in the country is planning organic growth in the country, but is also open for acquiring facilities in the country "when opportunities arrive".

Fuchs has specialty lubricants for mining, steel and automotive sectors. Hilloo claims the company has a significant share in certain segments, about 100 per cent share in coal mining lubricants and about 80 per cent in the cement grid. Fuchs automotive lubricants are marketed world-wide under the brand names Titan and Silkolene (for motorcycles).

The Indian company with turnover of Rs 50 crore plans to double its turnover. "We expect to grow at 50 per cent a year", Hilloo added. At present, Fuchs markets about 5,000 ton of lubricants in India by offering 400 products and plans to bring a few more from its international portfolio.