H.B. Fuller Buys $20M Brazilian Adhesives Co.
St. Paul-based sealants manufacturer H.B. Fuller Company announced Thursday that it completed the purchase of South American adhesives company Plexbond QuÃmica S/A for an undisclosed amount.
The acquisition, originally announced in late May, is expected to expand H.B. Fuller’s manufacturing resources and customer base.
“This acquisition solidifies our position in the South American adhesives industry, particularly in the highly attractive, fast-growing, and demanding flexible packaging market,” H.B. Fuller president and CEO Jim Owens said in a statement.
H.B. Fuller specializes in adhesives and sealants for customers in packaging, hygiene, general assembly, paper converting, woodworking, construction, automotive, and other consumer businesses. The publicly traded manufacturer reported 2012 net revenue of $1.9 billion—an increase of 18.8 percent from 2011. It employs approximately 3,700 individuals and operates out of 43 countries.
Plexbond QuÃmica, which operates out of Curitiba, Brazil, specializes in chemical polyurethane products and polyester resins. The manufacturer generated nearly $20 million in 2012 revenue. Plexbond QuÃmica will continue to operate out of its Brazilian location, and H.B. Fuller will retain all 29 of Plexbond QuÃmica’s employees.
H.B Fuller is among Minnesota’s 25-largest public companies based on revenue. In September, the company acquired Engent, Inc.—a manufacturing, research, and development services company in the electronics industry.