H.B. Fuller Company Agrees to Acquire Continental Products Limited
New Business to Support Company's Growing Presence in East and Central African Markets
ST. PAUL, Minn., Dec. 23, 2014 /PRNewswire/ -- H.B. Fuller Company (NYSE: FUL) announced today that it has signed an agreement to purchase Continental Products Limited, a provider of industrial adhesives in East and Central Africa. This business will generate approximately €2.3 million in revenue for the 2014 fiscal year. Based in Nairobi, Kenya, Continental will be included in H.B. Fuller's Europe, India, Middle East, Africa (EIMEA) operating segment.
Founded in 1996, Continental works closely with customers to develop high-quality adhesives solutions for a wide range of industries, including paper converting, printing and packaging, labeling, laminating, bookbinding, automotive assembly, footwear and construction. The addition of this business will enable H.B. Fuller to capitalize on access to local infrastructure in Kenya and to fully leverage its broad-based technology portfolio much more effectively in a strategically important geography.
"With this acquisition, we will take a significant step forward in our plan to grow in Africa," said Steve Kenny, senior vice president, EIMEA, H.B. Fuller. "H.B. Fuller has a strategic focus on growth in emerging markets, and the Continental business will enable us to deliver specialty adhesive products to key customers in the East and Central African regions. The Continental team has developed extensive market knowledge and exceptionally strong customer relationships, and coupled with their local manufacturing capabilities, H.B. Fuller will be able to further enhance partnerships with its customers to develop and produce new and better products for their customers."
Continental has been H.B. Fuller's agent in the region since 2003.
About H.B. Fuller:
For over 125 years, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. With fiscal 2013 net revenue of $2.05 billion, H.B. Fuller's commitment to innovation brings together people, products and processes that answer and solve some of the world's biggest challenges. Our reliable, responsive service creates lasting, rewarding connections with customers in packaging, hygiene, general assembly, electronic and assembly materials, paper converting, woodworking, construction, automotive and consumer businesses. And our promise to our people connects them with opportunities to innovate and thrive. For more information, visit us at www.hbfuller.com and subscribe to our blog.
Kimberlee Sinclair
Global Communications
+1 651 236 5823
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Maximillian Marcy
Investor Relations
+1 651 236 5062
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SOURCE H.B. Fuller Company
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