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H.B. Fuller Announces North American Price Increase

Published on 2010-05-17. Author : SpecialChem

ST. PAUL, Minn. -- H.B. Fuller Company announced that it will implement a price increase on its water-based, hot melt and reactive adhesives sold in North America. The increases will average between 8 and 15 percent, depending on technology, and will be effective on June 1, 2010.

The Company cited increased supply pressures and higher than expected increases in raw material feedstocks, which began to increase in the fourth quarter of 2009, as necessitating the pricing actions.

"We are constantly working to control costs, develop the most efficient products, and effectively service our customers," stated Traci Jensen, vice president of North America Adhesives. "However, unexpected feedstock shortages and the associated cost escalations that resulted, require us to adjust our pricing to compensate for these cost increases."

About H.B. Fuller Company:

For more than 120 years, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants, paints and other specialty chemical products to improve products and lives. Recognized for unmatched technical support and innovation, H.B. Fuller brings knowledge and strength to help its customers find precisely the right formulation for the right performance. With fiscal 2009 net revenue of $1.235 billion, H.B. Fuller serves customers in the packaging, hygiene, paper converting, general assembly, woodworking, construction, and consumer markets.

Forward-Looking Statements:

Certain statements in this document may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks and uncertainties, including but not limited to the following: the Company's ability to effectively integrate and operate acquired businesses; political and economic conditions; product demand; competitive products and pricing; costs of and savings from restructuring initiatives; geographic and product mix; availability and price of raw materials; the Company's relationships with its major customers and suppliers; changes in tax laws and tariffs; devaluations and other foreign exchange rate fluctuations; the impact of litigation and environmental matters; the effect of new accounting pronouncements and accounting charges and credits; and similar matters. Further information about the various risks and uncertainties can be found in the Company's SEC 10-Q filing of March 21, 2010 and 10-K filing, as amended, for the fiscal year ended November 28, 2009. All forward-looking information represents management's best judgment as of this date based on information currently available that in the future may prove to have been inaccurate. Additionally, the variety of products sold by the Company and the regions where the Company does business make it difficult to determine with certainty the increases or decreases in net revenue resulting from changes in the volume of products sold, currency impact, changes in product mix, and selling prices. However, management's best estimates of these changes as well as changes in other factors have been included.

Source: H.B. Fuller Company


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