28 June 2012 07:14 [Source: ICIS news]
SINGAPORE (ICIS)--Forbo will focus on further developing its building and construction adhesive business after having sold its industrial adhesives and synthetic polymer activities to US-based HB Fuller, the Swiss flooring group said on Thursday.
“The investments in markets, technologies and production facilities made in recent years provide a solid basis for further developing this [building and construction] business,” Forbo said in a statement.
US-based adhesives and sealants firm HB Fuller completed the acquisition of the global industrial adhesives unit of Forbo at Swiss franc (Swfr) 370m ($385m) in March this year.
Forbo’s building and construction adhesives unit employs about 270 people at production facilities in Netherlands, Germany and Russia.
Its net sales in 2011 was at Swfr100.4m and its main markets are in Benelux, Germany, Russia, and eastern Europe, Forbo added.
($1 = Swfr0.96)
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