H.B. Fuller divests Central American paint division

H.B. Fuller Co. has announced the completion of the sale of its Central America paints business to Compania Global de Pinturas S.A., a company of Grupo Mundial, for $120 million. Following fulfillment of all conditions associated with the divestiture, the deal closed on Aug. 6, 2012.

The paints division produces a broad range of product lines used widely 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.

H.B. Fuller is a 125-year-old global producer of adhesives, sealants and other specialty chemical products. Headquarters in St. Paul, Minn., the company is listed on the Fortune 500. In 2011, worldwide sales reach $1.56 billion.