Sector News

H.B. Fuller Company Acquires TONSAN Adhesive, Inc.

February 2, 2015
Chemical Value Chain
(GLOBE NEWSWIRE) – H.B. Fuller Company announced today that it has finalized the previously announced purchase of TONSAN Adhesive, Inc., the largest independent engineering adhesives provider in China. With this acquisition, H.B. Fuller adds strong customer relationships in high-value, fast-growing engineering adhesives markets, state-of-the-art manufacturing facilities, and strong product and technology development capabilities.
 
“With the addition of the TONSAN business, H.B. Fuller is now a key, global competitor in some of the adhesives industry’s most innovative and profitable segments,” said Jim Owens, president and CEO, H.B. Fuller. “Together with TONSAN’s management, we will build a stronger position from which to serve our customers in China and around the world. And, with our combined expertise and focus on innovation and growth, we will continue to help customers design new, different and better products.”
 
TONSAN generated approximately $100 million in revenue in 2014. H.B. Fuller has acquired 95 percent of the equity of TONSAN for cash consideration of Rmb 1.4 billion, or about $225 million. The four founding shareholders of TONSAN will remain with the company as a part of the leadership team and retain a minority equity interest. The results of this business will be included in H.B. Fuller’s Asia Pacific operating segment going forward.
 
Source: H.B. Fuller

comments closed

Related News

July 3, 2022

Neste acquires European rights to Alterra’s chemical recycling tech for difficult plastics

Chemical Value Chain

Neste has bought the European rights for Alterra Energy’s liquefaction technology, strengthening its chemical recycling capabilities. Alterra is a US-based company that has developed a thermochemical solution for liquefying difficult-to-recycle plastics.

July 3, 2022

Maria Soler Nunez appointed as Head, Group Operations at Lonza

Chemical Value Chain

Lonza appoints Maria Soler Nunez as Head, Group Operations. Maria joins Lonza from Novartis where she has led the quality organization since 2020. Maria will commence her tenure with Lonza Group on 1 August 2022, succeeding Stefan Stoffel, who is retiring from Lonza.

July 3, 2022

AkzoNobel announces Gregoire Poux-Guillaume as new Chief Executive Officer as of November 1, 2022

Chemical Value Chain

AkzoNobel has announced that Gregoire Poux-Guillaume will become the company’s new Chief Executive Officer (CEO) as of November 1, 2022. He will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end.