A WORD FROM THE CEO
Lubricating grease is a fascinating material that keeps the wheels turning in modern industry. AXEL offers a diversified range of high-quality lubricating greases for industries such as automotive, offroad, agriculture, food, steel, mining, pulp & paper, marine, railways and many more. These high performance products reduce friction, save energy and protect valuable equipment.
The global market of lubricating grease is a unique niche within the overall lubricants market. Within this mature segment there are ever increasing performance requirements and dynamic sectors to benefit from, including environmentally adapted lubricants. AXEL is well positioned to service customers all over the world, providing a comprehensive range of products in their brands. In combination with the knowledge and specific services, we offer our customers an attractive solution as supplier of choice.
/Johan Stureson, CEO.
IMPORTANT EVENTS IN 2018
- The company benefited from demand growth in all key markets and several new customers were successfully introduced. This resulted in sales reaching a new all time high.
- Strong demand influenced delivery leadtimes in some areas and the organisation worked hard to reduce the impact from this. These efforts will continue in 2019.
- Raw material costs remained relatively stable by comparison, following the substantial increase of Lithium Hydroxide in 2016.
- The technical knowledge within the AXEL team was recognised by multiple speaker awards at different industry conferences.
- A change of management was carried out at the Dutch unit late in the year.
Axel Group operates in a competitive niche within the petrochemical industry. Despite the fact that the lubricating grease industry is a decreasing market our view is that additional market shares can be attained both in existing markets where we are currently present as well as in new geographies. Fairford believes there is further value to be created through both organic growth, industry consolidation and improved operations and we are happy to support Axel in all aspects long term in the same manner as we’ve done since 1997.
Johan Stureson, CEO
Anna Åkerblad, CFO