H.B. Fuller Buys Ohio Co., Adhesive Technology
Vadnais Heights-based industrial adhesive manufacturer H.B. Fuller has acquired a small Ohio-based adhesive maker, the company announced on Monday.
Financial terms of the sale were not disclosed.
Liquid Polymer Corporation, an eight-person company, manufactures and markets a new adhesive technology called Liquamelt. The Liquamelt system is expected to generate less than $1 million in revenue in 2011, according to H.B. Fuller.
Liquamelt adhesive can flow at room temperature, making storage and handling easy, whereas traditional hot-melt tank and hose temperatures reach as high as 350 degrees. H.B. Fuller said the adhesive also contains more than 40 percent renewable raw materials, allowing for significant mileage improvements, and reducing overall energy consumption. Besides the company's assets, H.B Fuller now also owns the patented technology.
“This 'Cool on Delivery, Hot on Demand' technology is a new category of adhesives and will enable us to help our customers drive cost and complexity from their processes,” Jim Owens, president and CEO of H.B. Fuller, said in a statement. “The acquisition of Liquamelt adhesive technology demonstrates our commitment to rapid innovation and new product delivery to the adhesives industry.”
H.B. Fuller Company is among Minnesota's 30-largest public companies based on revenue, which totaled $1.36 billion in its most recently completed fiscal year.