The 2020 Mid-Year Economic Update_long

H.B. Fuller Agrees to Acquire Tonsan Adhesive

H.B. Fuller sales up 4.8 percent in 2Q.

Adhesives manufacturer H.B. Fuller Company (NYSE: FUL), St. Paul, MN, has agreed to acquire Tonsan Adhesive Inc., an adhesives manufacturer based in China with annual sales of $100 million.

Tonsan offers silicone, epoxy, anaerobic and cyanoacrylate technologies that will facilitate H.B. Fuller's global entry into the segment. H.B. Fuller will acquire 95 percent of the equity of Tonsan for a cash consideration of Rmb 1.4 billion (US$230 million).

"With this acquisition, we enter the fast-growing and profitable engineering adhesives market and strengthen our business in China," said Jim Owens, H.B. Fuller's president and CEO. "This acquisition will launch H.B. Fuller into some of the most exciting and profitable segments of the adhesives industry."

H.B. Fuller also reported sales for the second quarter ended May 31 of $544 million, an increase of 4.8 percent year-over-year. Profit decreased 20.8 percent to $20.5 million.

Sales for the first half of 2014 were $1 billion, up 3.1 percent over the same period a year ago. Organic sales grew 3.3 percent. Profit fell 25 percent to $35.1 million.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.