Valvoline has purchased the Fabrika Maziva FAM factory in Krusevac, central Serbia, for €9.5m. Fabrika Maziva FAM, which avoid bankruptcy in 2016 after getting a government bailout, is a leading lubricants producer. The factory currently employs 218 people. A third of its output is for export to countries around the region as well as to Russia and Africa. Valvoline is planning further investments into the factory.
