ST. PAUL, Minn., Apr. 5 (Korea Bizwire) — H.B. Fuller Company (NYSE:FUL) announced today that it has signed an agreement to purchase Advanced Adhesives, a provider of industrial adhesives in Australia and New Zealand. With fiscal 2015 net revenue of $17 million, this business will be included in H.B. Fuller’s Asia Pacific operating segment.
Established in 1985, Advanced Adhesives works closely with customers in a wide range of industries, including consumer packaged goods, woodworking and product assembly applications. The addition of this business will enable H.B. Fuller to strengthen its industrial adhesives market position and leverage a broader technology portfolio in both Australia and New Zealand.
“With this acquisition, we will accelerate our profitable growth agenda in Australia and New Zealand,” said Heather Campe, vice president, Asia Pacific, H.B. Fuller. “Advanced Adhesives’ manufacturing capabilities and local market expertise complement our strong network in China, Malaysia and the Philippines. This new business also will enable us to leverage capacity in the region to better serve our current customers and access new markets.”
Pending government and regulatory requirements, the company expects the acquisition to close by late April 2016.
About H.B. Fuller:
For nearly 130 years, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. With fiscal 2015 net revenue of $2.1 billion, H.B. Fuller’s commitment to innovation brings together people, products and processes that answer and solve some of the world’s biggest challenges. Our reliable, responsive service creates lasting, rewarding connections with customers in engineering, electronic and assembly materials, hygiene, construction, automotive, packaging and other consumer businesses. And our promise to our people connects them with opportunities to innovate and thrive. For more information, visit us at www.hbfuller.com and subscribe to our blog.
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Source: H.B. Fuller Company via GLOBE NEWSWIRE