H.B. Fuller Stock

H.B. Fuller Company is a leading worldwide formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. Sales operations span 35 countries in North America, Europe, Latin America, Asia Pacific, India, the Middle East and Africa. Industrial adhesives represent the company’s core product offering, which help improve the performance of its customers’ products or improve their manufacturing processes.

Customers use the company’s adhesives products in manufacturing common consumer and industrial goods, including food and beverage containers, disposable diapers, medical products, windows, doors, appliances, sportswear, footwear, multi-wall bags, water filtration products, insulation, textiles, automobiles, recreational vehicles, buses, trucks and trailers, marine products, solar energy systems, electronics and products for the aerospace and defense industries. In addition, the company has established a variety of product offerings for residential, commercial and industrial construction markets, including sealing and waterproofing solutions for airports, roads, highways, bridges and utilities; pressure-sensitive adhesives, tapes and sealants for the commercial roofing industry; and level-setting products, ready-to-use grouts, mortars, and pressure sensitive adhesives that enable contractors and do-it-yourself consumers to quickly install flooring and tiling applications more reliably and efficiently. The company also provides its customers with technical support and unique solutions designed to address their specific needs.

Segments

The company operates through three segments: Hygiene, Health and Consumable Adhesives, Engineering Adhesives and Construction Adhesives.

The Hygiene, Health and Consumable Adhesives operating segment produces and supplies a full range of specialty industrial adhesives such as thermoplastic, thermoset, reactive, water-based and solvent-based products for applications in various markets, including packaging (food and beverage containers, flexible packaging, consumer goods, package integrity and re-enforcement, and non-durable goods), converting (corrugation, folding carton, tape and label, paper converting, envelopes, books, multi-wall bags, sacks, and tissue and towel), nonwoven and hygiene (disposable diapers, feminine care and medical garments) and health and beauty.

The Engineering Adhesives operating segment produces and supplies high performance industrial adhesives, such as reactive, light cure, two-part liquids, polyurethane, silicone, film and fast cure products to the durable assembly (appliances and filters), performance wood (windows, doors and wood flooring) and textile (footwear and sportswear), transportation, electronics, clean energy, aerospace and defense, appliance, heavy machinery and insulating glass markets.

The Construction Adhesives operating segment manufactures and provides specialty adhesives, sealants, tapes, mortars, grouts, and application devices for commercial building roofing systems, heavy infrastructure projects, road/highway/airport transportation applications, telecom/5G utilities, industrial LNG plants, building envelope applications, HVAC insulation systems, and for both residential and commercial flooring underlayment solutions. Construction Adhesives operating segment includes products used for tile setting (adhesives, grouts, mortars, sealers and levelers), the commercial roofing industry (pressure-sensitive adhesives, tapes and sealants) and heating, ventilation and air conditioning and insulation applications (duct sealants, weather barriers and fungicidal coatings and block fillers). This operating segment also includes caulks and sealants for the consumer market and professional trade, sold through retailers, primarily in Australia.

Non-U.S. Operations

The principal markets, products and methods of distribution outside the United States vary with each of the company’s regional operations generally maintaining integrated business units that contain dedicated supplier networks, manufacturing, logistics and sales organizations. The vast majority of the products sold within any region are produced within the region, and the respective regions do not import significant amounts of product from other regions. As of December 2, 2023, the company had sales offices and manufacturing plants in 25 countries outside the United States and satellite sales offices in another 9 countries.

The company has a Code of Business Conduct and detailed Core Policies that it applies across all of its operations around the world. These policies represent a set of common values that apply to all employees and all of the company’s business dealings. The company has adopted policies and processes, and conduct employee training, intended to ensure compliance with various economic sanctions and export controls, including the regulations of the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC).

Customers

The company has cultivated strong, integrated relationships with a diverse set of customers worldwide. The company’s customers are among the technology and market leaders in consumer goods, construction and industrial markets.

The company’s leading customers include manufacturers of food and beverages, hygiene products, clothing, major appliances, electronics, automobiles, aerospace and defense products, solar energy systems, filters, construction materials, wood flooring, furniture, cabinetry, windows, doors, tissue and towel, corrugation, tube winding, packaging, and tapes and labels.

The company’s products are delivered directly to customers primarily from its manufacturing and distribution facilities, with additional deliveries made through distributors and retailers.

Patents, Trademarks and Licenses

The company owns numerous trademarks and service marks in various countries. Trademarks, such as H.B. Fuller, Swift, Advantra, Clarity, Earthic, Sesame, TEC, Foster, Rakoll, Rapidex, Full-Care, Thermonex, Silaprene, Eternabond, Cilbond, HydroArmor, Ködispace, Weld Mount and TONSAN are important in marketing products.

Seasonality

The company’s operating segments have historically had lower net revenue in winter months, which is primarily its first fiscal quarter (year ended December 2, 2023), mainly due to international holidays and the seasonal decline in construction and consumer spending activities.

Regulatory Compliance

The company complies with applicable federal, state, local and foreign laws and regulations relating to environmental protection and workers' safety, including those required by the U.S. Environmental Protection Agency (the EPA) and the European Union’s (EU) Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) regulation.

Various legislation, regulations and international accords pertaining to climate change have been implemented or are being considered for implementation, particularly as they relate to the reduction of greenhouse gas emissions, such as the EU's Corporate Sustainability Reporting Directive (CSRD), California’s Climate Corporate Data Accountability Act and Climate Related Financial Risk Act, and similar regulations under consideration by the Securities and Exchange Commission (SEC). These laws may directly impact the company. The company also continues to regularly report its sustainability efforts and metrics under the Global Reporting Initiative (GRI) framework and report its goals and progress in its annual Sustainability Report. The company complies with the Foreign Corrupt Practices Act’s (FCPA) requirements to make and keep accurate books and records that accurately and fairly reflect its transactions and to devise and maintain an adequate system of internal accounting controls.

The company is also subject to and comply with increasingly complex privacy and data protection laws and regulations in the United States and other jurisdictions. This includes the EU’s General Data Protection Regulation (GDPR), which enforces rules relating to the protection of processing and movement of personal data.

History

H.B. Fuller Company was founded in 1887. The company was incorporated as a Minnesota corporation in 1915.