H.B. Fuller to Build New Facility in Egypt

Rhea-AI Summary

H.B. Fuller (NYSE: FUL) announced a $23 million investment to establish a new manufacturing facility in Cairo, aimed at meeting rising demand in Egypt, Turkey, and the broader Middle East and Africa. This state-of-the-art plant will double production capacity and serve various sectors including hygiene and packaging. Set in the CPC Industrial Park, the facility will adhere to sustainability standards and is expected to commence full production by Q4 2022. This strategic move aims to enhance H.B. Fuller's regional leadership and create job opportunities while improving logistical access.

Positive

• Investment of $23 million to build a new facility in Cairo.
• Facility will double production capacity for adhesive manufacturing.
• Strategic location in Cairo enhances logistical access and operational efficiency.
• Creation of new job opportunities in the region.

Negative

• None.

H.B. Fuller (NYSE: FUL), a leading global adhesive manufacturer, announced today a strategic investment to build a new facility in Cairo to support customers’ increased demand in the fast-growing markets of Egypt, Turkey, Middle East and Africa. The new factory will become a regional supply hub and a center of excellence for manufacturing for adhesives serving the hygiene, packaging, labelling, paper converting and graphic arts, among other industries.

H.B. Fuller to build a new adhesives manufacturing plant in Egypt. (Photo: Business Wire)

“Egypt has naturally become a main gateway to the region and with the new plant, we will extend our current leadership in Egypt and Turkey and grow our competitive position across the emerging markets of Middle East and Africa”, said Harsh Gupta, H.B. Fuller's managing director for India, Middle East and Africa. “Our expanded presence in Cairo, with a high-tech site designed with future growth in mind allows us to double our production capacity and advance our technologies. This investment represents our commitment to better serving our customer base in close proximity to where they operate, for example in the markets for hygiene and packaging.”

The world-class production facility will fulfil industry-leading sustainability standards. With a gross area of 37,000 m² in a two-story building, the planned site will be built at the well-equipped CPC Industrial Park, in the 6th of October industrial city in Cairo, which is considered a strategic location for manufacturing, and will commence full production in the last quarter of 2022.

H.B. Fuller has had a presence in Egypt since 2008 and this new strategic investment will allow them to grow and create new jobs opportunities in the region and offer improved quality, capacity to serve increased regional needs, excellent access to transportation and logistics advantages, and technical support to ensure a superior service that can help customers gain business value through their adhesive applications.

Recently, H.B. Fuller also has strengthened its adhesive business in Africa, with a robust commercial expansion in South Africa serving many of over the 30 market segments of the company’s portfolio. Across the globe, the company works with customers in more than 100 countries.

About H.B. Fuller:

Since 1887, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. With fiscal 2020 net revenue of $2.8 billion, H.B. Fuller’s commitment to innovation brings together people, products and processes that answer and solve some of the world’s biggest challenges. Our reliable, responsive service creates lasting, rewarding connections with customers in electronics, disposable hygiene, health and beauty, transportation and infrastructure, aerospace, clean energy, packaging, construction, woodworking, general industries and other consumer businesses. And, our promise to our people connects them with opportunities to innovate and thrive. For more information, visit us at hbfuller.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005107/en/

FAQ

What is H.B. Fuller's new investment in Cairo about?

H.B. Fuller is investing $23 million to build a new adhesive manufacturing facility in Cairo to support increasing demand in the region.

When will H.B. Fuller's new Cairo facility start operations?

The new facility is expected to commence full production in the last quarter of 2022.

What capacity increase will the new H.B. Fuller facility in Cairo provide?

The new facility will double H.B. Fuller's production capacity in the region.

Which markets will benefit from H.B. Fuller's new Cairo plant?

The new plant will serve markets including hygiene, packaging, labeling, and graphic arts.