FUPEF - Fuchs: Investment For The Long Term
Investment Thesis
Fuchs (FUPEF) (FUPEY) develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. Fuchs is the world's largest independent lubricant manufacturer. The most important markets in terms of sales revenues are Western Europe, Asia, and North America. The Company manages to achieve high returns on invested capital and at the same time operates as debt-free. The current profitability is pressured by a high investment program which has started in 2016. At top of it, the company feels macro pressures from China and Western Europe.
Business and