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Forbo Develops South American Market with License Agreement
Eglisau, September 23, 2003
The Forbo Group has concluded a license agreement with the Brazilian adhesives manufacturer Artecola Indústrias Químicas Ltda. With an annual turnover of CHF 30 million, Artecola is the most important privately-owned adhesives manufacturer and is strongly represented throughout Brazil and South America. This exclusive license agreement which includes most product lines in the adhesives range enables Forbo to develop the South American market and thus to expand its worldwide presence in the adhesives business.
This leads in particular to a strengthening of Forbo's position with multinational clients who will henceforth be served with locally-produced products based on Forbo know-how. South America offers a market potential of about CHF 500 million.
Forbo is a global manufacturer of flooring products, adhesives as well as conveyor and drive belts. The Group employs some 5,700 people worldwide and has an international network of 32 production companies in 12 countries and 80 sales organizations in 30 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