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H.B. Fuller Expanding Strategic Presence in Southeast Asia

Published on 2010-04-01. Author : SpecialChem

ST. PAUL, Minn., -- H.B. Fuller Company announced that it has entered into a stock purchase agreement under which it will acquire all of the shares of Revertex Finewaters Shd Bhd in Malaysia, a joint venture of Yule Catto & Company Plc and Jahor Corporation.

Revertex Finewaters is a leading supplier of adhesives in Malaysia, with a well developed export network throughout Southeast Asia, including Thailand, Indonesia, Philippines, Vietnam, and Singapore. The company currently employs 104 people and operates one manufacturing facility. In 2009, it had net revenue of approximately $18 million.

"The acquisition of Revertex Finewaters further strengthens our market position in Southeast Asia and expands both our geographic presence and customer portfolio in this very fast growing region," said Michele Volpi, president and chief executive officer. "With a more diversified product offering, enhanced technical capability, and closer proximity to the customer base, we expect this acquisition to generate significant growth synergies in the periods ahead."

This transaction is expected to close during the second quarter of 2010 and is subject to customary closing conditions and regulatory approvals. Once closed, the results of this business will be included in the Company's Asia Pacific operating segment.

About H.B. Fuller Company:

H.B. Fuller Company is a leading worldwide manufacturer and marketer of adhesives, sealants, paints and other specialty chemical products, with fiscal 2009 net revenue of $1.235 billion. Its common stock is traded on the New York Stock Exchange under the symbol FUL.

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-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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