Swiss Forbo sells industrial adhesives unit to US-based HB Fuller

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)

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By: Samuel Wong

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