YEAR ESTABLISHED: 1928
Dr. Albert Gnagi, chairman of the board of directors; Michel Riva, executive VP, bonding systems.
Bonding Systems is among the world’s leading suppliers of industrial adhesives. Sales dropped the $524 million due primarily to volatility in the U.S. market, which accounts for about one-third of the division’s sales. In the industrial adhesives area, investments were made primarily in fast-growing markets such as Russia, Vietnam and India. In the building and construction adhesives business, the sales network in Eastern Europe was expanded in order to ensure maximum capacity utilization of Forbo’s new production plant in Russia. In France and Greece, capacity for the production of thermoplastic hotmelts was expanded in order to meet the growing demand in the packaging industry. In China, capacity for the production of thermoplastic hotmelts was increased for applications in the wood-processing industry.