H.B. Fuller to cut capacity and restructure. (News).(Major restructuring, cuts manufacturing capacity by 20%)(Brief Article)(Statistical Data Included)

Chemical Market Reporter, January, 2002

RESPONDING TO difficult market conditions, H.B. Fuller Company is embarking on yet another major restructuring initiative. The company plans to slash its current manufacturing capacity by 20 percent by streamlining 12 to 15 facilities and operations in Latin America, Europe and North America. The efforts, which will involve a head count reduction of around 5 percent, are designed to reduce costs by $10 million to $12 million annually.

The majority of the capacity eliminations will take place in North America with production shifting to other facilities. There will be no impact to customers, according to the company. The timing of the restructuring will occur over the course of 2002, with Al Stroucken, Fuller's chairman, president and CEO, projecting that...

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