St Paul, Minnesota -- H.B. Fuller Co. announced 31 May that it intends to close five manufacturing facilities in Europe, following its acquisition of the industrial adhesives business of Forbo Group. The move will result in a net reduction of about 100 positions in sales, finance, customer service, and research and development.
As expected, the company said, it has seen sizable opportunities to eliminate duplication in manufacturing and redundant services in the combined businesses.
The changes support H.B. Fuller's growth and profitability strategy in the Europe, India, Middle East and Africa (EIMEA) region, specifically to its commitment to improve earnings (EBITDA) margin to 15 percent by the year 2015 while completing the integration of the Forbo business in the region.
The plans are subject to Works Council and/or Trade Union consultations and other legal requirements.