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H.B. Fuller to Exit Auto JV

9:48 AM MDT | October 16, 2007 | Kate Phillips

H.B. Fuller says it has agreed to sell its stake in an automotive joint venture to EMS Chemie Holding (EMS; Männedorf, Switzerland), the principal partner of the jv, for $80 million. Fuller says it expects the deal to close by the end of the fourth quarter, following customary closing conditions and regulatory approvals. The divestiture will allow Fuller to concentrate on “providing integrated solutions and value-added offerings to our segments of focus,” it says. The deal will be immediately accretive to return on gross investment, and create a...

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