The Freudenberg company, Klüber Lubrication München SE & Co. KG, Munich, Germany is acquiring TRAXIT International GmbH, Schwelm, Germany, a wire drawing lubricant manufacturer providing a range of lubricants for all applications to the wire industry. TRAXIT has manufacturing sites in Germany, China, and the US. The company has subsidiaries, agents and representatives in over 150 countries and has some 150 employees.
“For years, we have been expanding our lubricant business by acquiring high quality specialists,” said Hanno D. Wentzler, CEO of Freudenberg Chemical Specialities, in a company press release. “Quality products and services used in manufacturing wire are an excellent addition to our existing portfolio.”
“TRAXIT is a good fit for Klüber Lubrication, because its success factors and market mechanisms are similar to those for our current portfolio,” said Claus Langgartner, Klüber Lubrication CEO in the Freudenberg press release.
TRAXIT will retain responsibility for managing business operations. The lubricant company headquarters will remain in Schwelm.
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