H.B. Fuller Global Automotive Business Announces Price Increase

ST. PAUL, Minn., April 03, 2017 (GLOBE NEWSWIRE) — H.B. Fuller Company (NYSE:FUL) announced today that, effective May 8, 2017, or as contracts allow, the global automotive business group of H.B. Fuller will increase the price for adhesives 5 percent to 10 percent in all regions. This announcement excludes solvents and some polyurethanes, which may have a larger percent increase.

After a relatively long period of stability, an increase is necessitated due to recent cost changes and supply constraints to feedstocks, such as propylene, ethylene, methanol, butadiene, isoprene and acetone, which have led to higher raw material costs.

“While striving to manage increases internally and with our global supply chain, it has become necessary to increase our prices so that we can continue the same high level of quality and service our customers expect,” says Matthew McGreevy, business director, H.B. Fuller, Global Automotive.

H.B. Fuller sales professionals will contact customers affected.  More information about H.B. Fuller’s automotive business and products may be found at www.hbfullerengineering.com/transportation.

About H.B. Fuller
For 130 years, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. With fiscal 2016 net revenue of $2.1 billion, H.B. Fuller’s commitment to innovation brings together people, products and processes that answer and solve some of the world’s biggest challenges. Our reliable, responsive service creates lasting, rewarding connections with customers in electronics, disposable hygiene, medical, transportation, clean energy, packaging, construction, woodworking, general industries and other consumer businesses. And our promise to our people connects them with opportunities to innovate and thrive. For more information, visit us at www.hbfuller.com and subscribe to our blog.

CONTACT: Kimberlee Sinclair
Global Communications
+1 651 236 5823
kimberlee.sinclair@hbfuller.com


Source: Nasdaq Automotive News

Author: News Editor

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