Please wait.'

Page is loading'


Home  > Markets & companies  > Coatings market  > H.B. Fuller announces agreement to sell it...

Wednesday, 18 September 2019
pdf
Markets & companies, Coatings market

H.B. Fuller announces agreement to sell its Central American paints business

Tuesday, 8 May 2012

According to H.B. Fuller’s CEO, Jim Owens, the paints business is not core to the strategic plan of the company.

H.B. Fuller Company has signed an agreement to sell its Central American paints business to Compania Global de Pinturas S.A.

H.B. Fuller Company has signed an agreement to sell its Central American paints business to Compania Global de Pinturas S.A.

H.B. Fuller Company announced that it has signed an agreement to sell its Central American paints business to Compania Global de Pinturas S.A., (”Pintuco”), a company of Grupo Mundial, on May 7, 2012.

"This business has a strong market position and excellent leadership,” said Jim Owens, President and CEO of H.B. Fuller. "Our strategic vision is to be the best adhesives company in the world, and the paints business is not, therefore, core to our strategic plan.”

The Central American paints business began operations in Costa Rica in 1949 and has been a member of the H.B. Fuller portfolio since 1967. The business being sold includes nearly 800 employees who work across Central America and production plants and laboratories in Costa Rica, Honduras and Panama. The transaction's closing is subject to certain conditions, including the notification of government and regulatory authorities and should be completed within 60 days. The purchase price to be paid for the business is USD 120 million. The Central American paints business will be accounted for as a discontinued operation in H.B. Fuller's current 2012 fiscal year.

top of page
Comments (0)
Add Comment

Post comment

You are not logged in

register