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
INEOS Styrolution, the global leader in styrenics, has today announced the official opening of a new world-scale ABS[1] facility located in Ningbo, China, together with its joint venture partner SINOPEC. The facility has an annual nameplate capacity of 600,000 tonnes.
The merger of Röhm’s Acrylic Products business unit and SABIC’s Functional Forms business has resulted in the formation of Polyvantis. This new company will offer extruded products in the forms film, sheet, pipe and rod for markets that include building and construction, transportation and aviation, electrical and electronics, automotive and home and garden.
Abu Dhabi National Oil Co. (Adnoc) is considering plans to acquire upstream oil and gas company Wintershall DEA, an affiliate of BASF SE, according to a Bloomberg report citing people with knowledge of the matter. A deal to acquire Wintershall DEA could be worth more than €10 billion, the report said. BASF and Adnoc declined to comment on the report.