21 May 2013 14:09 [Source: ICIS news]
HOUSTON (ICIS)--US-based adhesives, sealants and specialty chemicals firm HB Fuller has agreed to acquire Brazil’s Plexbond Quimica for an undisclosed sum, according to a statement on Tuesday.
Plexbond Quimica supplies polyurethane specialties and polyester resins. The company, which operates a plant in Curitiba, Brazil, had revenues of about $20m (€16m) last year.
"With this acquisition, we will take a step forward on two important elements of our strategic plan – establishing a manufacturing presence in Brazil and accelerating our growth in the flexible packaging market," said HB Fuller CEO Jim Owens.
"HB Fuller has a strategic focus on three core areas – packaging, hygiene and durable assembly – and the Plexbond Quimica business will bring us capabilities that we can leverage globally in the important packaging market," Owens said.
($1 = €0.78)
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