27 June 2013 20:47 [Source: ICIS news]
HOUSTON (ICIS)--End-market conditions for adhesives remains weak in ?xml:namespace>
The region was the only global area in which the adhesives and specialty chemicals producer experienced a decline in year-over-year volume, said James Owens, who made his comments during a conference call over HB Fuller’s Q2 earnings.
“Several of our key durable assembly markets – for example, woodworking – are weak as consumer discretionary spending is constrained,” Owens said of
On Wednesday, HB Fuller posted a more than twelvefold increase in year-on-year net income, thanks to a more than 500% increase in income from continuing operations. Last year’s Q2 net income was muted by the company’s acquisition of Swiss-based adhesive maker Forbo.
Organic revenue in Q2 2013 fell about 1% year over year, a decline Owens attributed to weak sales in
The attrition comes from product line rationalisation, repositioning and changes in organisation in
Despite weakness in Europe, HB Fuller continues to show solid sales growth in
Adhesive sales in North and Latin Americas were subdued with slight declines year over year, Owens said.
Asia is a mixed bag for the company, with
HB Fuller expects better sales growth in the second half of the year as the company shifts away from business integration work toward attracting new business, he said.
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