Compañía Global de Pinturas to buy H.B. Fuller’s paint unit
Manufacturer H.B. Fuller will sell its paints unit, which is based in Central America, to a Colombia-based company in order to focus on its adhesives business.
The company announced Monday that it will sell its Central America paint business to Companía Global de Pinturas for $120 million. The deal is expected to close within 60 days, a spokesman for H.B. Fuller said.
The company’s paints unit generated $113.5 million in in revenue in 2011, about 7 percent of H.B. Fuller’s total revenue. The unit employs about 800 workers at production plants and laboratories in Costa Rica, Honduras and Panama.
The buyer is a paints company that operates in Colombia, Venezuela, Ecuador, Costa Rica, Panama and the Caribbean. Its parent company, Grupo Mundial, operates 53 companies in 12 countries and generated sales totaling $1.07 billion in 2011.
You may be interested
Costa Rican diet contains too much salt, Health Ministry saysAlejandro Zúñiga - March 9, 2021
The average Costa Rican adult consumes twice the recommended value of salt each day, according to the Health Ministry. Ticos ingest…
Costa Rica creates commission to address gender unemployment gapAlejandro Zúñiga - March 9, 2021
In context of International Women's Day, Costa Rican leaders on Monday signed a decree to create a commission to address…
Vaccinated people don’t have to self-isolate after Covid contactAlejandro Zúñiga - March 8, 2021
People who are fully vaccinated against Covid-19 won’t have to isolate if they are a close contact to someone who…