HB Fuller expands in Middle East
Acquisition brings HB Fuller further into new market
By Dave Hannon -- Purchasing, 9/2/2008 3:57:00 PM
Adhesives maker HB Fuller has expanded its presence in the Middle East though the acquisition of Egymelt, a manufacturer of hot melt and specialty water-based adhesives in Cairo, Egypt.
While Egymelt is a small, $4 million firm, the deal brings St. Paul, Minn.-based HB Fuller into a geographic region with a lot of growth potential for chemicals suppliers.
In a statement on the deal, Michele Volpi, president and CEO of HB Fuller, said: “This strategic acquisition is just the beginning of a much larger commitment to this fast growing region and builds upon the momentum created from the recently announced investments in Asia Pacific to drive geographic expansion. Plans are already in place and being executed upon to expand capacity and augment the capability of the business to more fully serve and support our key global account partners."
In July, HB Fuller announced plans to build a new hot melt moisture cure and polyisobutylene manufacturing facility in China.
See also: Energy prices accelerate the move to the Middle East
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