H.B. Fuller Co. has announced an initiative to accelerate its growth by restructuring various parts of its business to more closely align with the company’s 2020 strategic vision.
The restructuring initiative will include the elimination or relocation of approximately 220 positions globally by early 2017 across various businesses and functions at the company, along with other product line and operations enhancements and efficiencies.
The changes the company is making will allow H.B. Fuller to operate more effectively and efficiently, while proactively responding to end-market and global industry dynamics, such as global prices for petrochemicals and a significantly stronger U.S. dollar.
These actions, in addition to other initiatives the company will be undertaking to optimize its operations, product lines and business portfolios, will result in restructuring charges of $17 million to $20 million during the 2017 fiscal year.
H.B. Fuller expects the program to deliver approximately $18 million in annual savings, a portion of which will be realized in 2017.
Source: mdm.com
We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.
In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.
Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.
