22 December 2011 07:13 [Source: ICIS news]
SINGAPORE (ICIS)--Forbo has signed an agreement for the sale of its industrial adhesives and synthetic polymer activities to US-based adhesives and sealants firm HB Fuller for Swiss francs (Swfr) 370m ($394m), the Swiss flooring group said on Thursday.
The transaction does not include the building and construction adhesives unit, which is also under Forbo’s bonding system division, Forbo said in a statement.
The transaction will be subject to certain conditions, including the approval of the cartel and anti-trust authorities of the individual countries, to be completed as soon as March 2012, Forbo said.
“The addition of Forbo’s industrial adhesives and synthetic polymers activities will significantly strengthen our market position worldwide and provide us with attractive growth opportunities over the long term,” said Jim Owens, president and CEO of HB Fuller.
($1 = Swfr 0.94)
Please visit the complete ICIS plants and projects database
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections