By Nick Gilbert
H.B. Fuller, a global supplier of adhesives, has announced that the company has inked a contract for the sale of its paints business, based in Central America, to Compania Global de Pinturas (Pintuco), Grupo Mundial’s company.
H.B. Fuller's paints business in Central America offers strong branded and high-quality products. The company’s brands and products are extensively utilized in commercial and residential applications, which include architectural, highway and marine safety.
According to the Chief Executive Officer and President of H.B. Fuller, Jim Owens, this paints business is positioned strongly in the market and has an efficient management. The paint division does not form the main part of the company’s plan. This divesture has facilitated this business to be included in the company’s plan, Jim stated.
During 1949, H.B. Fuller commenced this Central American paints business in Costa Rica. Approximately 800 workers are employed at the company's paint division to work across Central America and in laboratories and production facilities located in Panama, Honduras and Costa Rica.
Pintuco is a paint company based in Medellin, Colombia. This company has established its presence in the Caribbean, Colombia, Costa Rica, Ecuador, Panama and Venezuela. Grupo Mundial was established during 1921 and it is operating 53 companies in 12 countries. This group is exporting products to 25 countries and has six company divisions namely chemicals, general wholesaler, inks, packaging, paints and water pipes.