FUL - H.B. Fuller Completes Sale of Surfactants Thickeners and Dispersants Business
ST. PAUL, Minn., July 2, 2019 /PRNewswire/ -- H.B. Fuller Company (NYSE: FUL) announced today that it has completed the sale of its surfactants, thickeners and dispersants business to Tiarco, LLC, a wholly owned subsidiary of Textile Rubber and Chemical Company, Inc., for $71 million. Following fulfillment of all conditions associated with the divesture, the deal closed on July 1, 2019.
H.B. Fuller will use the net proceeds from the sale for debt reduction, and the divestiture also will enable the company to strengthen its focus on more highly specified adhesive solutions.
About H.B. Fuller Company:
Since 1887, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. With fiscal 2018 net revenue of over $3 billion, H.B. Fuller's commitment to innovation brings together people, products and processes that answer and solve some of the world's biggest challenges. Our reliable, responsive service creates lasting, rewarding connections with customers in electronics, disposable hygiene, medical, transportation, aerospace, clean energy, packaging, construction, woodworking, general industries and other consumer businesses. And, our promise to our people connects them with opportunities to innovate and thrive. Learn more at www.hbfuller.com.
About Tiarco, LLC:
A division of Textile Rubber & Chemical Co., Inc., Tiarco, LLC is a privately owned, specialty chemical manufacturer servicing latex, grease & lubricant, water treatment, and oil & gas applications with chemistries that deliver the highest levels of cost performance. The company is active globally with global sales offices and distribution facilities worldwide to better serve our customers. Learn more at www.tiarcochem.com.
SOURCE H.B. Fuller Company