ST. PAUL, Minn., April 18, 2011 /PRNewswire/ -- H.B. Fuller Company (NYSE: FUL) announced today that it has completed the acquisition of the assets of privately held Liquamelt Corp., an Ohio based manufacturer and marketer of the patented Liquamelt® adhesive system.
"Liquamelt is a unique adhesive system," says Jim Owens, president and chief executive officer. "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 with technology that is based on sustainable and available raw materials. The acquisition of Liquamelt adhesive technology demonstrates our commitment to rapid innovation and new product delivery to the adhesives industry."
Liquamelt adhesive is flowable at room temperature and combines with easy to use delivery equipment to create a fast-bonding, high-performing adhesive solution. It enables room temperature storage and handling of adhesive, where today traditional hot-melt tank and hose temperatures reach as high as 350 degrees Fahrenheit (180 degrees Celsius). Liquamelt adhesive contains greater than 40 percent renewable raw materials, allows for significant mileage improvements, and results in reduced overall energy consumption. This closed system is easy to maintain and remains free of contamination.
Liquamelt Corp. currently employs eight people. In addition to the material and equipment patents, the principal assets acquired include equipment and inventory. The Liquamelt system is expected to generate less than $1 million in revenue in 2011. The financial results of this business will be included in the Company's North America operating segment.
The Liquamelt adhesive system will be available exclusively from H.B. Fuller. The company will leverage its global market position and technical expertise to accelerate adoption of this new category of superior adhesive technology and add value to its customers' products and processes.
About H.B. Fuller Company:
For nearly 125 years, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants, paints and other specialty chemical products to improve products and lives. Recognized for unmatched technical support and innovation, H.B. Fuller brings knowledge and strength to help its customers find precisely the right formulation for the right performance. With fiscal 2010 net revenue of $1.36 billion, H.B. Fuller serves customers in packaging, hygiene, paper converting, general assembly, woodworking, construction and consumer businesses. For more information, visit www.hbfuller.com.
Safe Harbor for Forward-Looking Statements:
Certain statements in this document may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks and uncertainties, including but not limited to the following: the Company's ability to effectively integrate and operate acquired businesses; political and economic conditions; product demand; competitive products and pricing; costs of and savings from restructuring initiatives; geographic and product mix; availability and price of raw materials; the Company's relationships with its major customers and suppliers; changes in tax laws and tariffs; devaluations and other foreign exchange rate fluctuations; the impact of litigation and environmental matters; the effect of new accounting pronouncements and accounting charges and credits; and similar matters. Further information about the various risks and uncertainties can be found in the Company's SEC 10-Q filing of March 28, 2011 and 10-K filing for the fiscal year ended November 27, 2010. All forward-looking information represents management's best judgment as of this date based on information currently available that in the future may prove to have been inaccurate. Additionally, the variety of products sold by the Company and the regions where the Company does business make it difficult to determine with certainty the increases or decreases in net revenue resulting from changes in the volume of products sold, currency impact, changes in product mix, and selling prices. However, management's best estimates of these changes as well as changes in other factors have been included.
SOURCE H.B. Fuller Company