OK
The Universal Selection Source:
Adhesives Ingredients
Industry News

H.B. Fuller Closes Sale of Powder Coatings Business

Published on 2006-12-04. Author : SpecialChem

ST. PAUL, Minn. -- H.B. Fuller Company (NYSE:FUL) announced that it has completed the sale of its Powder Coatings business to The Valspar Corporation (NYSE:VAL).

The Company anticipates this transaction will generate a one-time positive impact to pre-tax income of $64 to $68 million in the fourth quarter. This includes the gain on the sale, partially offset by certain transaction-related costs.

The Company announced the sale of the business in October and will present the results of its Powder Coatings business as "Discontinued Operations" for all periods reported.

About H.B. Fuller Company:

H.B. Fuller Company is a leading worldwide manufacturer and marketer of adhesives, sealants, coatings, paints and other specialty chemical products, with fiscal 2005 net revenue of $1.512 billion. Its common stock is traded on the New York Stock Exchange under the symbol FUL.

Safe Harbor for 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 including the Roanoke flooring products business and the European insulating glass sealant business; political and economic conditions; product demand; competitive products and pricing; costs of and savings from restructuring initiatives; 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 (particularly with respect to the euro, the British pound, the Japanese yen, the Australian and Canadian dollars, the Argentine peso and the Brazilian real); 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 filings of April 7, 2006, July 7, 2006, and October 6, 2006 and the Company's 10-K filing of February 14, 2006. 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 sales 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


FEICA 2018 European Adhesive and Sealant Conference and EXPO
Back to Top