WCA March 2020

Industry news

Klüber Lubrication acquires Traxit International

KLÜBER Lubrication München SE & Co KG, Germany, has acquired Traxit International GmbH, also of Germany. The purchase agreement includes all assets of the company, including international subsidiaries. Traxit provides the wire drawing industry with a complete range of lubricants to suit all types of wire. Founded in 1881, the company has grown to be one of the largest wire drawing lubricant producers in the world, with manufacturing sites in Germany, China and the USA. The company has subsidiaries, agents or representatives in more than 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,” said Claus Langgartner, speaker of the board of Klüber Lubrication. “High-end products and services for the manufacturing of wires are a perfect addition to our existing portfolio of advanced speciality lubricants improving operational efficiency and protecting customer assets.” With Traxit in its portfolio, Klüber will enlarge its footprint in speciality lubricants, and will develop the business strategically. “The company will fit in very well at Klüber Lubrication as similar success factors and mechanisms to the markets of our existing businesses apply,” said Mr Langgartner. Traxit will continue to be responsible for the operative management of its businesses, and the company’s headquarters will remain in Schwelm, Germany. Klüber Lubrication München SE & Co KG www.klueber.com Traxit International GmbH www.traxit.com Capital connections In the UK, the mayor of London, Sadiq Khan, has launched a £10mn investment fund to upgrade large parts of the city from copper cable to full fibre by utilising the Tube transport network. The plans will see use of TfL’s tunnels to create a fibre backbone across London. The funding will cover the installation costs of linking the fibre optic cables to public buildings, such as community centres and libraries. The project is also set to reduce the cost of laying cables for providers. Transport for London https://tfl.gov.uk

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Wire & Cable ASIA – March/April 2020