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H.B. Fuller to Close Five Plants in Europe Following Forbo Acquisition

May 31, 2012 | Ian Young

H.B. Fuller will close five manufacturing plants in Europe during the next two years with the loss of about 100 jobs, raising its total number of announced job cuts to 370. The latest cuts form part of the previously announced rationalization process following Fuller's acquisition of the industrial adhesives business of Forbo, which was completed last March. They are designed to help Fuller achieve an Ebitda margin of 15% by 2015. The company reported an Ebitda margin of 10.8% in the first quarter of 2012. Fuller says it has a worldwide workforce of about 3,500...

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