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H.B. Fuller to Acquire Henkel's Insulating Glass Sealant Business
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 On March 27, 2006, H.B. Fuller Company (NYSE:FUL) announced that it has entered into an asset purchase agreement with Henkel KGaA under which H.B. Fuller will acquire Henkel's insulating glass sealant business.
Overview:
Henkel's insulating glass sealant business manufactures sealants for windows used in both residential and commercial construction. They have a strong market presence in Europe and an expanding presence in Asia. Through this acquisition, they will become part of H.B. Fuller's Window business, within the company's Full-Valu / Specialty segment. In combining these businesses, H.B. Fuller will create a global business with a stronger and more diverse product offering.
"This transaction is a significant step forward in the development of our Window business, expanding our presence and presenting an enhanced platform from which to grow," said Al Stroucken, chairman and chief executive officer of H.B Fuller.
Transaction Details:
The assets being acquired primarily include manufacturing equipment, inventory, and intellectual property. No debt or liabilities are being assumed. H.B. Fuller intends to fund the transaction completely with existing cash. This transaction, expected to close within the next three months, is subject to customary closing conditions and regulatory approvals.
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.
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April 3rd, 2006
Source: H.B. Fuller |
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