H.B. Fuller sells its Central American
paints business to Pintuco
H.B. Fuller Company has signed an agreement to sell its Central American paints business to Compania Global de Pinturas S.A.,
(Pintuco), a company of Grupo Mundial.
H.B. Fuller’s Central American paints
business has a leading market position in the
region with strong brands, a broad offering
of quality product lines and a local manufacturing presence. Sales are made through
multiple distribution channels, including retail distributors and the company’s network
of retail stores located throughout Central
America. Its brands are well recognized, and
its products are widely used for residential
and commercial applications, including architectural, marine and highway safety.
“This business has a strong market position and excellent leadership,” said Jim
Owens, president and CEO of H.B. Fuller.
“Our strategic vision is to be the best adhesives company in the world, and the
paints business is not, therefore, core to
our strategic plan. Our divestiture enables
this business to be part of a company with
a strategic position in the paint industry.”
The Central American paints business
began operations in Costa Rica in 1949
and has been a member of the H.B. Fuller
portfolio since 1967. The business being
sold includes nearly 800 employees who
work across Central America and production plants and laboratories in Costa
Rica, Honduras and Panama.
Based in Medellin, Colombia, Pintuco is
a leading company in the paints industry in
the Andean region, with a presence in
Colombia, Venezuela, Ecuador, Costa Rica,
Panama and the Caribbean. Grupo
Mundial operates 53 companies in 12 countries and exports products to 25 countries.
Group sales for 2011 were $1.073 billion.
Grupo Mundial was founded in 1921 and
has six company divisions: Paints, Chemicals, General Wholesaler, Water Pipes, Inks
and Packaging.
The transaction’s closing is subject to cer-
tain conditions, including the notification of
government and regulatory authorities and
should be completed within 60 days. The
purchase price to be paid for the business is
$120 million. In 2011, the business to be
sold had revenue of $113.5 million and gen-
erated EBITDA of $13.3 million, before al-
location of corporate expenses. The Central
American paints business will be accounted
for as a discontinued operation in H.B.
Fuller’s current 2012 fiscal year.
AkzoNobel to supply roof
coatings to Maracanã Stadium
AkzoNobel has reached an agreement to
supply coatings for the roof of Brazil’s fa-
mous Maracanã Stadium, which will host
a major soccer final in 2014. In addition,
AkzoNobel has also secured a contract to
paint the mezzanine of the Grêmio Arena
located in Porto Alegre. The Maracanã
Stadium contract involves the supply of
Interseal 670HS protective coatings, while
both Interseal 670HS and Interfine 979
will be used at the Grêmio Arena. Both are
supplied by AkzoNobel’s marine and pro-
tective coatings business. CW
Index to Companies
This index gives the starting page for a department or feature with a signifi-
cant reference to a manufacturer of paint, coatings, adhesives and sealants.
Subsidiaries are indexed under their own names.
3M...................................................... 16, 19
AkzoNobel.................................................8, 16
BASF ................................................. 10, 19, 30
Biocoat ..................................................... 22
ChesapeakeBayCoatings ....................................... 22
ComplimentaryCoatingsCorp ................................... 30
Dunn-Edwards................................................ 22
Dur-A-Flex................................................... 46
H.B.Fuller....................................................8
Hempel ..................................................... 30
Henkel...................................................... 16
Hydromer ................................................... 10
IndustrialNanotech............................................ 10
InternationalPaint............................................. 36
Pintuco ......................................................8
PPG..................................................... 22, 50
QuestSpecialtyChemicals....................................... 46
RPM ....................................................... 46
Sansin ...................................................... 10
SCIGRIP .................................................... 10
Shawcor..................................................... 10
SpiesHecker ................................................. 22
Valspar................................................... 16, 19
8 | Coatings World
www.coatingsworld.com
June 2012