Lube blender Fuchs’ Q4 global sales rise

German lube blender Fuchs Petrolub saw revenue in the North and South America region rise at a faster pace than in other regions in the fourth quarter of last year amid a strong rebound in sales following the pandemic-induced slowdown the previous year.

Sales of €127mn ($145mn) in the North and South America region in the three months to end-December rose by 20pc from year-earlier levels.

Sales outpaced the 12pc rise in sales in the Europe, Mideast Gulf and Africa (EMEA) region during the same period and the 15pc rise in sales in Asia-Pacific.

Total sales of €742mn in the fourth quarter rose by 16pc from the same period a year earlier.

Revenue in North and South America got a boost from a lower base level in 2020, when the Covid-19 pandemic had a major impact on lube consumption.

The blender also benefited from the contribution from US-based specialty manufacturer Nye Lubricants, which Fuchs bought in January 2020.

The rise in sales was countered by the negative currency effect caused by the weakness of the US dollar and Brazilian real.

The slower sales growth in EMEA coincided with a rise in costs for everything from raw materials to transport and labor in 2021. South Africa, Italy, Poland and Russia contributed to the rise in sales in that region.