During the year, H.B. Fuller acquired Revertex Finewaters, a leading supplier of adhesives in Malaysia. Revertex Finewaters strengthens the company’s presence in Southeast Asia and adds $18 million in annual revenue. Revertex Finewaters operates a well developed export network throughout Southeast Asia, including Thailand, Indonesia, Philippines, Vietnam and Singapore.
H.B. Fuller also closed on a new, $200 million facility that provides additional flexibility for future growth efforts.
The company also exited its polysulfide-based insulating glass sealant business in Europe, allowing better focus on the company’s core growth markets.
In May 2010 H.B. Fuller’s manufacturing facility in Nanjing, China opened for business. According to the company, it is the first multinational adhesives company in the region with a manufacturing facility focused on reactive hot melt technologies.
Later in the year, a groundbreaking was held for the company’s new $12 million manufacturing facility near Pune, India. It represents H.B. Fuller’s commitment to establishing a presence in the fast-growing Indian adhesives market. The company currently has a small but growing presence in the Indian adhesives market, estimated between $300 to $400 million annually. The plant is expected to be operational by August 2011.
In November Jim Owens was appointed president and CEO of H.B. Fuller and a director of the board. He succeeded Michele Volpi, who led the company for the previous four years.