ST. PAUL, Minn., Aug. 6, 2012 /PRNewswire/ -- H.B. Fuller Company (NYSE: FUL) announced today that it has completed the sale of its Central America Paints business to Compania Global de Pinturas S.A., ("Pintuco"), a company of Grupo Mundial, for $120 million. Following fulfillment of all conditions associated with the divestiture, the deal closed on August 6, 2012.
The Paints business has a leading market position in Central America with strong local manufacturing capabilities and a broad range of quality product lines, which are widely used for residential and commercial applications. The sold business includes nearly 800 employees who work across Central America and in production plants and laboratories in Costa Rica, Honduras and Panama.
About H.B. Fuller Company:
For 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. Recognized for unmatched technical support and innovation, H.B. Fuller brings knowledge and expertise to help its customers find precisely the right formulation for the right performance. With fiscal 2011 net revenue of $1.6 billion, H.B. Fuller serves customers in packaging, hygiene, general assembly, paper converting, woodworking, construction, automotive and consumer businesses. For more information, visit us at www.hbfuller.com or subscribe to our H.B. Fuller Strength blog.
About Pintuco and Grupo Mundial:
Pintuco is a leading paints company in the Andean region, serving this market for over 65 years. With operations in Colombia, Venezuela, Ecuador, Costa Rica, Panama and the Caribbean, it has developed a complete portfolio of decorative, industrial and construction paints and coatings. Pintuco is an affiliate of Inversiones Mundial S.A., the holding company of Grupo Mundial, a diversified group, based in Medellin, Colombia. Founded in 1921, Grupo Mundial operates 53 companies in 12 countries and exports to 25 countries. Group sales for 2011 were $1.073 billion. Grupo Mundial has six company divisions: Paints, Chemicals, General Wholesaler, Water Pipes, Inks and Packaging. Grupo Mundial's main companies are: Pintuco (Compania Global de Pinturas S.A.), Andercol S.A., Cacharreria Mundial S.A.S and O-Tek Internacional S.A.
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SOURCE H.B. Fuller Company