H.B. Fuller Company (NYSE:FUL) announced that it has completed the sale of its Central America Paints business to Compania Global de Pinturas S.A., ("Pintuco"), a company of Grupo Mundial, for $120 million. Following fulfillment of all conditions associated with the divestiture, the deal closed on August 6, 2012.
The Paints business has a leading market position in Central America with strong local manufacturing capabilities and a broad range of quality product lines, which are widely used for residential and commercial applications. The sold business includes nearly 800 employees who work across Central America and in production plants and laboratories in Costa Rica, Honduras and Panama.