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Forbo has acquired the Swift Adhesives Business
Eglisau, April 22, 2002
Forbo has acquired the Swift Adhesives Business from the US-based chemical company Reichhold Inc. as of April 19, 2002. As announced on March 26, 2002, the emphasis of Forbo's business portfolio is shifting to Industry Specialties, and Adhesives with annual sales of some CHF 650 million will become the strategic core business with the highest turnover.
The purchase price is about US $ 210 million. As already informed at the press conference on March 26, 2002, the transaction includes the adhesives activities under the name of Swift for industrial applications, with annual sales of more than CHF 400 million and with some 600 employees. Sales of about CHF 240 million are achieved in North America alone, approximately CHF 130 million in Europe, and the remainder in other markets.
Forbo is a global producer of floor coverings and industry specialties. The company employs some 5,800 people worldwide and has an international network of 39 production companies in 12 countries and 79 marketing organizations in 28 countries.
Contact:
Ursula Leonhard
Head of Corporate Communications
Tel: + 41 1 868 25 69
Fax: + 41 1 868 35 69
Gerold Zenger
Chief Financial Officer
Tel: + 41 1 868 25 25
Fax: + 41 1 868 25 26