Klüber Lubrication acquires TRAXIT International
Klüber Lubrication acquired the TRAXIT International. The purchase agreement includes all assets of the company including the international subsidiaries. With this acquisition TRAXIT Group becomes a further division of the Klüber Lubrication Group.
TRAXIT provides the wire drawing industry with a complete range of lubricants to suit all types of wire for all applications for 139 years. From its early beginnings in the year 1881 in Schwelm, Germany, the company has grown to be one of the largest wire drawing lubricant producers in the world. TRAXIT runs manufacturing sites in Germany, China and USA. The lubricants are sold throughout the world. The company has subsidiaries, agents or representatives present in over 150 countries.
“We have been pursuing an active acquisition strategy for many years with a view to expanding the existing businesses by further value added services. High- end products and services for the manufacturing of wires are a perfect addition to our existing portfolio of advanced specialty lubricants improving operational efficiency and protecting customer assets”, says Claus Langgartner, Speaker of the Board Klüber Lubrication. With TRAXIT in its portfolio, Klüber Lubrication will enlarge its footprint in specialty lubricants and will develop it strategically.
“Much like Klüber Lubrication, TRAXIT has advanced the industry with performance- oriented products and quality services based on the unmatched scientific and application know- how,” said Sebastian Homborg, Management Board of TRAXIT. “Customers will enjoy the benefits arising from TRAXIT now becoming a division of Klüber Lubrication”, said Guido Kellmann, Management Board of TRAXIT. “TRAXIT is on a continuous growth path since decades. This trend will accelerate together with Klüber Lubrication”, declares Hartmut Schröder, Management Board of TRAXIT.
TRAXIT will continue to be responsible for the operative management of its businesses. The company's headquarters will remain in Schwelm. The strategic leadership is oriented towards long- term growth.