H.B. Fuller Company has entered into a stock purchase agreement under which it will acquire all of the shares of Revertex Finewaters Shd Bhd in Malaysia, a joint venture of Yule Catto & Company Plc and Jahor Corporation. Revertex Finewaters is a leading supplier of adhesives in Malaysia, with a well developed export network throughout Southeast Asia, including Thailand, Indonesia, Philippines, Vietnam and Singapore. The company currently employs 104 people and operates one manufacturing facility. In 2009, it had net revenue of approximately $18 million.
“The acquisition of Revertex Finewaters further strengthens our market position in Southeast Asia and expands both our geographic presence and customer portfolio in this very fast growing region,” said Michele Volpi, president and CEO, H.B. Fuller. “With a more diversified product offering, enhanced technical capability and closer proximity to the customer base, we expect this acquisition to generate significant growth synergies in the periods ahead.”
This transaction is expected to close during the second quarter of 2010 and is subject to customary closing conditions and regulatory approvals. Once closed, the results of this business will be included in the company’s Asia Pacific operating segment.
H.B. Fuller Acquires Industrial Adhesives Business in Malaysia