HB Fuller buys 95% of Tonsan

HB Fuller Co said that it will acquire 95% of the Chinese firm Tonsan Adhesive Inc for US$230M in cash, while four founding shareholders of Tonsan will retain 5%.

HB Fuller said Tonsan, with an annual revenue of about US$100M, is the largest independent engineering adhesives company in China and that it will benefit from Tonsan’s customer relationships, manufacturing facilities and product development operations.