US HB Fuller completes deal for Brazil Plexbond Quimica

06 June 2013 22:58  [Source: ICIS news]

HOUSTON (ICIS)--HB Fuller has completed its purchase of Brazil’s Plexbond Quimica for an undisclosed sum, the US-based adhesives, sealants and specialty chemicals firm announced on Thursday.

Plexbond Quimica supplies polyurethane specialties and polyester resins. The company, which operates a plant in Curitiba, Brazil, had revenues of about $20m (€15m) last year.

HB Fuller announced in May that it would be buying the Brazilian company.

"This acquisition solidifies our position in the South American adhesives industry, particularly in the highly attractive, fast growing and demanding flexible packaging market," said Jim Owens, CEO of HB Fuller.

He added: "HB Fuller has a strategic focus on packaging, hygiene and durable assembly, and the Plexbond Quimica business will bring us strong customer relationships and manufacturing capabilities that we can leverage globally in the important packaging industry."

($1 = €0.76)

By: Jeremy Pafford
+1 713 525 2653

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