Citation
(2007), "HB Fuller closes sale of powder coatings business", Pigment & Resin Technology, Vol. 36 No. 2. https://doi.org/10.1108/prt.2007.12936bab.024
Publisher
:Emerald Group Publishing Limited
Copyright © 2007, Emerald Group Publishing Limited
HB Fuller closes sale of powder coatings business
HB Fuller closes sale of powder coatings business
St Paul, MN – (BUSINESS WIRE) – December 1, 2006 – HB Fuller Company (NYSE:FUL) announced today that it has completed the sale of its powder coatings business to The Valspar Corporation (NYSE:VAL).
The company anticipates this transaction will generate a one-time positive impact to pre-tax income of $64-68 million in the fourth quarter. This includes the gain on the sale, partially offset by certain transaction- related costs.
The company announced the sale of the business in October and will present the results of its powder coatings business as “Discontinued Operations” for all periods reported.
About HB Fuller Company: It is a leading worldwide manufacturer and marketer of adhesives, sealants, coatings, paints and other specialty chemical products, with fiscal 2005 net revenue of $1.512 billion. Its common stock is traded on the New York Stock Exchange under the symbol FUL. For more information, please visit their web site at: www.hbfuller.com