Ulm-based lubricants manufacturer Liqui Moly has recently been fully acquired by German fastener and tools giant Würth Group. The conglomerate fully acquired the majority shares held by CEO and Managing Director Ernst Prost.
Liqui Moly's rich history of over six decades comes from its invention of molybdenum disulphide (MoS2), which was the company's first product as well as giving the company its name.
Prost stresses that the sale was done with the company in completely good shape as Liqui Moly recently posted a record of over 500 million euros in sales for 2017 entering December. "I have hereby secured the future of Liqui Moly for a time when I may no longer be at the helm myself."
"I wanted to make provisions with a minimum of fuss, when things are going well and we don't have to decide under difficult circumstances," said Prost.
According to Liqui Moly, "there is a long relationship with the Würth Group. For almost 20 years the Würth Group has been a silent partner of Liqui Moly – a safeguard against uncertainties even back then."
"Over the past few years, Liqui Moly has shown an outstanding performance and developed into a real success story. The company owes this achievement mostly to the work of managing partner Ernst Prost and his employees," said Peter Zürn, Deputy Chairman of the Central Managing Board of the Würth Group.
"Würth Group may be rather bigger than Liqui Moly, but it is also a family company. That's why I know Liqui Moly is in good hands with the Würth Group," declared Prost.
Liqui Moly will continue to operate independently under the Würth Group umbrella starting January 1st, 2018, as Prost will continue to serve as CEO and Managing Director. Liqui Moly head of sales Günter Hiermaier, will be appointed second managing director by March 1st, 2018.
"Our objective is the sustained successful development of Liqui Moly in the future. This is why we will continue to put our faith in the entrepreneurial expertise of Ernst Prost, just as we have done in the past 20 years as a silent partner at Liqui Moly," Zürn added.
Maserati extends holiday production shutdown until mid-January at its Grugliasco and Mirafiori factories in Italy.