H.B. Fuller Expands European Business Transformation Plans

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H.B. Fuller Company
FUL
announced today that it intends to make several organizational changes to support its growth and profitability strategy in the Europe, India, Middle East and Africa (EIMEA) operating segment. These specific plans support the segment's commitment to improve EBITDA margin to 15 percent by the year 2015 while completing the integration of the Forbo business in the region. Earlier this year, H.B. Fuller completed its planned acquisition of the industrial adhesives business of Forbo Group. As expected, the company has determined that there are sizable opportunities to eliminate duplication in manufacturing and redundant services in the combined businesses. H.B. Fuller has now completed its integration assessments in EIMEA, and the resulting plans include the intended closure of five manufacturing facilities and a net reduction of approximately 100 positions in sales, finance, customer service, and research and development. The plans are based on a thorough analysis of the company's now-combined operations and are subject to Works Council and/or Trade Union consultations and other legal requirements.
Posted In: NewsEventsGlobal
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