FAIRHAVEN – Nye Lubricants has officially been acquired by The FUCHS Group of Mannheim, Germany.
An agreement for FUCHS, a global lubricants company, to acquire Nye, a manufacturer of synthetic lubricants, was signed in October. With regulatory approvals in place, the deal was closed on Jan. 24, FUCHS Group said in a statement.
Nye Lubricants will stay in Fairhaven. It has 180 employees and achieved $51 million in sales in fiscal year 2018.
The FUCHS Group develops, produces and markets high-grade lubricants for varied industries and applications. Founded in 1931, it has about 5,500 employees and 58 companies.
Susan Shalhoub is a PBN contributing writer.
