H.B. Fuller Acquires Nordic Adhesives
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Company extends presence in the flexible packaging market ST. PAUL, Minn.--(Business Wire)-- H.B. Fuller Company (NYSE: FUL) announced today that it has entered into an agreement to acquire Nordic Adhesives, a developer and manufacturer of flexible packaging adhesives, based in Buxtehude, Germany. Nordic generated net revenue of approximately $9 million U.S. in 2008. "Nordic has a strong product portfolio in the flexible packaging market and a solid presence in northern Europe. This acquisition will complement our existing product line, enhances our applications knowledge, and will enable us to extend our reach in this highly attractive $1 billion segment of the adhesives industry," said Michele Volpi, H.B. Fuller president and chief executive officer. "With Nordic, we can capitalize upon our global footprint and more quickly develop a more meaningful presence in this desirable market." A stock purchase, the acquisition encompasses all Nordic business operations, including the company`s innovative product line and technical expertise. About H.B. Fuller Company: H.B. Fuller Company is a leading worldwide formulator and marketer of adhesives, sealants, paints and other specialty chemical products, with fiscal 2008 net revenue of $1.4 billion. Its common stock is traded on the New York Stock Exchange under the ticker symbol FUL. For more information, please visit the Web site at www.hbfuller.com. H.B. Fuller Company Keralyn Groff, 651-236-5104 Public Relations or Steven Brazones, 651-236-5158 Investor Relations Copyright Business Wire 2009
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