Dec 24 2014
H.B. Fuller Company announced today that it has signed an agreement to purchase Continental Products Limited, a provider of industrial adhesives in East and Central Africa. This business will generate approximately €2.3 million in revenue for the 2014 fiscal year. Based in Nairobi, Kenya, Continental will be included in H.B. Fuller's Europe, India, Middle East, Africa (EIMEA) operating segment.
Founded in 1996, Continental works closely with customers to develop high-quality adhesives solutions for a wide range of industries, including paper converting, printing and packaging, labeling, laminating, bookbinding, automotive assembly, footwear and construction. The addition of this business will enable H.B. Fuller to capitalize on access to local infrastructure in Kenya and to fully leverage its broad-based technology portfolio much more effectively in a strategically important geography.
"With this acquisition, we will take a significant step forward in our plan to grow in Africa," said Steve Kenny, senior vice president, EIMEA, H.B. Fuller. "H.B. Fuller has a strategic focus on growth in emerging markets, and the Continental business will enable us to deliver specialty adhesive products to key customers in the East and Central African regions. The Continental team has developed extensive market knowledge and exceptionally strong customer relationships, and coupled with their local manufacturing capabilities, H.B. Fuller will be able to further enhance partnerships with its customers to develop and produce new and better products for their customers."
Continental has been H.B. Fuller's agent in the region since 2003.
Source: http://www.hbfuller.com