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Fuller buys European adhesives and resins businesses

Published on 2004-03-11. Author : SpecialChem

 

H.B. Fuller Co. has bought the adhesives and resins businesses of Probos, based in Oporto, Portugal. Terms of the transaction were not announced.

Vadnais Heights-based Fuller said in a statement that the businesses serve mainly the Portuguese and Spanish markets and have combined annual sales of about $30 million.

The products lines bought by Fuller include various adhesives for the woodworking, footwear and converting industries. Also included are emulsions used by the paints, textiles and food product industries.

Probos kept its PVC/ABS and PE foam businesses.

The acquired businesses will be integrated in Fuller's European operations.

H.B. Fuller is a maker and marketer of adhesives, sealants, coatings, paints and other chemical products. Sales in fiscal 2003 were almost $1.3 billion.

Shares of Fuller (NYSE:FUL) closed up 1 cent, or less than 0.1 percent, at $28.02 on Thursday.


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