H.B. Fuller Announces Organizational Changes
H.B. Fuller Co. recently announced it intends to make several organizational changes to support its growth and profitability strategy in the Europe, India, the Middle East, and Africa (EIMEA) operating segment. These specific plans reportedly support the segment’s commitment to improve EBITDA margin to 15% by 2015 while completing the integration of the Forbo business in the region. The plans are based on a thorough analysis of the company’s now-combined operations and are subject to Works Council and/or Trade Union consultations and other legal requirements.
H.B. Fuller also affirmed its intention to make capital investments in the EIMEA segment of approximately $90 million over the next three years. The investments will reportedly enable consolidation, facilitate increased production capacity, support new technologies in the company’s European operations, and centralize finance shared services and customer service functions in Mindelo, Portugal, as previously announced. These actions will reportedly enable the operating segment to modernize and enhance plant processes and use resources and technology more efficiently.
Overall, plans for investment and restructuring represent a net reduction of 370 positions. The facilities scheduled for closure are located in Chatteris, UK; Pirmasens, Germany; and Vigo, Spain, as well as the previously announced closures planned for facilities in Borgolavezzaro, Italy; and Wels, Austria. These facility closures will be staggered over the next two years.
For additional information, visit www.hbfuller.com.