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

摘要

H.B. Fuller will close fve manufacturing plants in Europe dur- ing 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 fol- lowing 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 com- pany reported an Ebitda margin of 10.8% in the frst quarter of 2012. Fuller says it has a worldwide workforce of about 3,500. Plants will close at Pirmasens, Germany; Vigo, Spain; and Chatteris, U.K. These are in addition to previously announced plant closures at Wels, Austria and Borgolavezzaro, Italy.