P +41 58 787 25 41
Please find below all Forbo media releases listed by year.
Eglisau, March 11, 2002
The negotiations on the acquisition of the Adhesives Business from the US-based chemical company Reichhold Inc. by Forbo have been concluded successfully. Subject to the approval of the competition authorities, completion of the transaction will take place in April 2002.
The transaction includes the adhesives activities under the name of Swift for industrial applications, with an annual sales volume of more than CHF 400 million and with some 600 employees. Sales of about CHF 240 million are made in North America alone, approximately CHF 130 million in Europe, and the remainder in other markets.
Forbo and the vendor Reichhold Inc., a wholly owned subsidiary of Dainippon Ink and Chemicals Incorporated (DIC), Japan, have agreed not to disclose any information on the purchase price for the time being. Because of the strong balance sheet, the transaction can be completed by Forbo without raising any additional equity capital. Financing is secured.
With the acquisition of Swift, Forbo is turning from a European producer into a global player in the Adhesives Business as well.
As a result, the emphasis in the Forbo portfolio is shifting towards Industry Specialties, and Adhesives with an annual sales volume of some CHF 650 million will become the strategic core business with the highest turnover.
Forbo will provide further information on this important acquisition at the occasion of the media conference on March 26, 2002.
Forbo is a global producer of floor coverings and industry specialties. The company employs some 5,200 people worldwide and has an international network of 22 production companies in 12 countries and 58 marketing organizations in 26 countries.
Head of Corporate Communications
Tel: + 41 1 868 25 69
Fax: + 41 1 868 35 69
Chief Financial Officer
Tel: + 41 1 868 25 25
Fax: + 41 1 868 25 26