H.B. Fuller buys IG sealant business

H.B. Fuller Company has entered into an asset purchase agreement with Henkel KGaA under which H.B. Fuller will acquire Henkel“s insulating glass sealant business, it was announced 27 March 2006.
Hen…

H.B. Fuller Company has entered into an asset purchase agreement with Henkel KGaA under which H.B. Fuller will acquire Henkel“s insulating glass sealant business, it was announced 27 March 2006. Henkel“s insulating glass sealant business makes sealants for windows used in residential and commercial construction. The company has a strong market presence in Europe and an expanding presence in Asia. The IG sealant business will become part of H.B. Fuller“s Window business, within the company“s Full-Valu / Specialty segment. In combining the businesses, H.B. Fuller says it will create a global business with a stronger and more diverse product offering. “This transaction is a significant step forward in the development of our Window business, expanding our presence and presenting an enhanced platform from which to grow”, said Al Stroucken, chairman and chief executive officer of H.B Fuller. The assets being acquired primarily include manufacturing equipment, inventory, and intellectual property. No debt or liabilities are being assumed. H.B. Fuller intends to fund the transaction completely with existing cash. This transaction, expected to close within the next three months, is subject to customary closing conditions and regulatory approvals. H.B. Fuller Company is a worldwide manufacturer and marketer of adhesives, sealants, coatings, paints and other specialty chemical products, with fiscal 2005 net revenue of USD 1.512 billion.