H.B. Fuller Company announced today that it has signed an agreement to purchase Cyberbond, L.L.C., a global provider of industrial adhesives for the electronics, medical, audio equipment, automotive, and structural markets.
“With this acquisition, we will strengthen our position in high-margin, high-growth engineering adhesives markets,” says Jim Owens, president and CEO, H.B. Fuller. “Cyberbond will expand our technology portfolio and add well-established sales channels in North America and Europe. In addition, we will leverage the expertise and customer relationships of our team in China to grow the Cyberbond business in that important geography.”
Founded in 1997, Cyberbond is headquartered in Batavia, Illinois, with European operations based in Wunstorf, Germany. The company generated revenue of approximately $15 million in fiscal 2015 and will be included in H.B. Fuller’s Engineering Adhesives operating segment.
“Cyberbond is excited about joining H.B. Fuller. We look forward to a seamless transition and continuing to grow our business under new ownership,” says James East, CEO and a founding owner of Cyberbond. Mr. East and other key managers will continue with the company following the closing of the acquisition.
The company expects the acquisition to close this month.
Source: Street Insider
Italy’s Treasury has sold a 2.8% stake in oil and gas company Eni, raising approximately €1.4bn. Despite this reduction, the Italian Government will own a third of Eni, with a combined stake of more than 30% held between the Treasury and state lender Cassa Depositi e Prestiti, which owns another 28.5% stake.
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