Last week, readers were most interested in news from H.B. Fuller regarding its results for the second quarter of 2020 (Net Revenue Decreases 11% for H.B. Fuller in 2020 Second Quarter): “H.B. Fuller Co. recently reported financial results for its second quarter ended May 30, 2020. Net revenue of $675 million decreased 11% compared with the second quarter of 2019. Foreign currency exchange rates and the sale of the surfactants, thickeners, and dispersants business negatively impacted revenues by 4% on a combined basis. Organic revenue excluding these impacts was down 7% vs. the same period last year.
“Hygiene, Health and Consumable Adhesives (HHC) organic revenue increased 7% year over year, with double-digit growth in hygiene, packaging, and health and beauty. Engineering Adhesives and Construction Adhesives organic revenue declined 20% and 15% vs. last year, respectively, in line with the company’s planning assumptions for expected impacts related to the COVID-19 pandemic.
“‘H.B. Fuller’s operating performance in the second quarter was strong as our worldwide team relentlessly focused on supporting customers in producing essential goods,’ said Jim Owens, president and CEO. ‘Throughout the quarter, we found new opportunities to grow our business while managing costs and working capital. Our business model of global collaboration with local execution and a culture of customer focus enabled us to meet customer needs faster than competitors and gain share. Our supply chain and sourcing teams were able to meet demand while reducing costs and our technical, sales and office staff around the globe embraced new ways of working to increase productivity while reducing expenses. All of this was accomplished without any employees becoming infected with COVID-19 at work in our 72 factories.’”
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Top 5 News that Sticks for July 5-11
- Net Revenue Decreases 11% for H.B. Fuller in 2020 Second Quarter
- FEICA Summary Report Addresses Risk of Cyclic Esters in Polyester Adhesives
- Schwarz Named Global Sales Director of Meridian Adhesives Group’s Electronics Division
- 3M Young Scientist Challenge Announces 2020 National Finalists and State Merit Winners
- Berry Global to Supply Medicom in Support of British Government’s Mask Manufacturing Mandate
This weekly roundup highlights the adhesives, sealants, and coatings-related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.