Fuller sell surfactants, thickeners dispersants biz $71 mn

Fuller to sell surfactants, thickeners and dispersants biz for $71 mn

5:33 AM, 12th June 2019
H B Fuller logo

ST PAUL, US: H B Fuller Company has signed a definitive agreement to sell its surfactants, thickeners and dispersants business to Tiarco LLC, for $71 million.

Tiarco is a wholly owned subsidiary of Textile Rubber and Chemical Company Inc and develops specialty chemicals for a growing number of latex, lubricant and water treatment additive applications.

The transaction is expected to close in the third quarter.

H B Fuller's surfactants, thickeners and dispersants business, based in Dalton, Ga., had fiscal year 2018 sales of approximately $25 million and EBITDA of approximately $8 million. Its brands are well recognized, and the products include thickeners used in carpet, floor coatings, adhesive and caulk formulations, as well as surfactants used in detergents, wetting agents, and foam boosters in beauty and healthcare products.

"The business being sold is a non-strategic, non-adhesive business, which was purchased as part of the Royal acquisition," said Jim Owens, President and Chief Executive Officer of H B Fuller.

"Our focus is to shift our portfolio to more highly specified adhesive solutions, and the surfactants, thickeners and dispersants business is not part of our strategic vision. By divesting this business, we are able to continue to accelerate paying down debt, focus on our core, and better position this business for future growth under the ownership of Tiarco, which specializes in this market. We are pleased that our colleagues will join a strong, established team at Tiarco,” added Owens.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Modern Water to distribute Dow’s Traceable Polymer System

MIDLAND, US: Dow and Modern Water Inc announced a new strategic partnership whereby Modern Water becomes a global distributor of DOW OP ...

Read more
Nouryon launches new ingredient to improve agricultural formulations

AMSTERDAM, NETHERLANDS: Nouryon announced that is launching an ingredient for the agricultural market that helps fertilizer and crop protection produc ...

Read more
Total starts gas production from Culzean field

PARIS, FRANCE: Total SA has started up production from the Culzean gas condensate field located on Block 22/25a, off the coast of Aberdeen, UK. With ...

Read more
Air Liquide China to sell its subsidiary to client

PARIS, FRANCE: Air Liquide China has entered into an agreement to sell its subsidiary Air Liquide Fuzhou Co Ltd to its client Fujian Shenyuan New ...

Read more
Acron to invest $219 mn on large-scale projects in Novgorod

VELIKY NOVGOROD, RUSSIA: Acron Group and the Government of Novgorod region executed a letter of intent to implement investment projects in Novgorod re ...

Read more
Eni, Maire Tecnimont partner on waste-to-energy project

SAN DONATO MILANESE, MILAN: Eni and NextChem, Maire Tecnimont's green chemistry subsidiary, are working together to turn waste into new energy, hydrog ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X