H.B. Fuller closes sale of Powder Coatings Business

H.B. Fuller closes sale of Powder Coatings Business

H.B. Fuller Company (NYSE:FUL) announced that it has completed the sale of its Powder Coatings business to The Valspar Corporation (NYSE:VAL). The Company anticipates this transaction will generate a one-time positive impact to pre-tax income of US $64 to US $68 million in the fourth quarter. This includes the gain on the sale, partially offset by certain transaction-related costs. The Company announced the sale of the business in October and will present the results of its Powder Coatings business as “Discontinued Operations” for all periods reported. H.B. Fuller Company is a worldwide manufacturer and marketer of adhesives, sealants, coatings, paints and other specialty chemical products,with fiscal 2005 net revenue of US $1.512 billion.