Like his father, Philipp Lorenz Fauth (1879-1939) was an oil miller. He set up his own oil mill at Dotzheim station in 1909; the company prospered. However, on November 15, 1921, there was a serious explosion that destroyed the entire oil mill; seven workers died and over 150 people were injured.

In 1922, Fauth and the chemist Joseph Reichert acquired the stone mill built in 1704 in Mainzer Straße, not far from the former abattoir, and set up a new production facility. Fauth and Reichert expanded production to include the processing of oil paints. From then on, they ran the company as a public limited company. In December 1926, the branches "edible oil production" and "nutrient factory with oil paint processing" became independent companies. The nutrient factory remained a stock corporation, while the new edible oil and fat factory became a limited company. Its shareholders were Fauth and the businessman Alfred Hannemann.

In 1927, Fauth expanded his company again with "Fautan GmbH", a margarine distributor. Joseph Reichert acquired the rights to exploit all patents ever granted to Fauth through the "Gesellschaft zur Vertretung Fauth'scher Patente mit beschränkter Haftung". In the following years, however, business went from bad to worse. After Fauth's death in 1939, his heirs had to give up the over-indebted companies. Only the "Philipp L. Fauth Nährmittelfabrik AG", which was renamed "Speiseöl- und Speisefettfabrik" in July 1948, initially remained in existence, but was also dissolved on July 2, 1954.