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Regions :: China
H.B. Fuller to acquire Chinese firm Tonsan Adhesive for $225 million
12:05 AM MDT | June 26, 2014 | Deepti Ramesh
H.B. Fuller says that it has signed an agreement to acquire Tonsan Adhesive (Beijing). Tonsan, which was founded in 1993, specializes in R&D, manufacturing and sale of engineering adhesives. Fuller will acquire 95% of the equity of Tonsan for 1.4 billion renminbi ($225 million) in cash. The four founding shareholders of Tonsan will remain with the company as a part of the leadership team and retain a minority equity interest, Fuller says. Tonsan has annual revenue of about $100 million, and Ebitda of just under $20 million, Fuller says. Tonsan helps customers...
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