H.B. Fuller Company (NYSE: FUL) announced today that it has finalized the previously announced purchase of Plexbond Quimica S/A, a provider of chemical polyurethane specialties and polyester resins based in Curitiba, Brazil.
"This acquisition solidifies our position in the South American adhesives industry, particularly in the highly attractive, fast growing and demanding flexible packaging market," said Jim Owens, president and CEO, H.B. Fuller. "H.B. Fuller has a strategic focus on packaging, hygiene and durable assembly, and the Plexbond Quimica business will bring us strong customer relationships and manufacturing capabilities that we can leverage globally in the important packaging industry."
The Plexbond Quimica business generated nearly $20 million in revenue in 2012. The results of this business will be included in the company's Latin America Adhesives operating segment going forward.