.B. Fuller to Invest Further in Asia Pacific; Building New Specialty Adhesive Facility in China to Foster Organic Growth in Region
ST. PAUL, Minn.--(Business Wire)--
H.B. Fuller Company (NYSE: FUL) announced today that it will
invest further in its Asia Pacific region through building a new hot
melt moisture cure (HMMC) and polyisobutylene (PIB) manufacturing
facility in China. This investment is in line with the Companys
five-year strategy and focus on geographic expansion.
Construction on the new facility is expected to commence in early
2009 with production expected to begin in early 2010. The new
facility, together with the Companys new Asia Pacific technology
center, will enable the Company to more fully serve the needs of its
customers in the region. The facility will produce specialty adhesives
for textile and performance wood applications, which include
insulating glass, textile lamination, and footwear.
"H.B. Fuller is committed to investing for organic growth in key
developing economies, including the Asia Pacific region. The new plant
further supports this strategy by building an enhanced supply chain
capability to better serve our customers in this region. We are
confident that this will further accelerate our existing organic
growth profile in Asia," said Michele Volpi, president and chief
executive officer.
About H.B. Fuller Company:
H.B. Fuller Company is a leading worldwide manufacturer and
marketer of adhesives, sealants, paints and other specialty chemical
products, with fiscal 2007 net revenue of $1.4 billion. Its common
stock is traded on the New York Stock Exchange under the symbol FUL.
For more information, please visit the website at www.hbfuller.com.
Safe Harbor for Forward-Looking Statements:
Certain statements in this document may be considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are subject
to various risks and uncertainties, including but not limited to the
following: the Companys ability to effectively integrate and operate
acquired businesses; political and economic conditions; product
demand; competitive products and pricing; costs of and savings from
restructuring initiatives; geographic and product mix; availability
and price of raw materials; the Companys relationships with its major
customers and suppliers; changes in tax laws and tariffs; devaluations
and other foreign exchange rate fluctuations; the impact of litigation
and environmental matters; the effect of new accounting pronouncements
and accounting charges and credits; and similar matters. Further
information about the various risks and uncertainties can be found in
the Companys SEC 10-Q filings of April 4, 2008 and July 2, 2008 and
10-K filing of January 30, 2008. All forward-looking information
represents managements best judgment as of this date based on
information currently available that in the future may prove to have
been inaccurate. Additionally, the variety of products sold by the
Company and the regions where the Company does business make it
difficult to determine with certainty the increases or decreases in
net revenue resulting from changes in the volume of products sold,
currency impact, changes in product mix, and selling prices. However,
managements best estimates of these changes as well as changes in
other factors have been included.
H.B. Fuller Company
Steven Brazones, 651-236-5158
Investor Relations
or
Keralyn Groff, 651-236-5104
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