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Forbo to Develop Building and Construction Adhesives within the Flooring Business

Following the sale in early March 2012 of the industrial adhesives and synthetic polymers activities, which had formed part of the Bonding Systems division, to H.B. Fuller Company, Forbo evaluated the strategic options for the remaining building and construction adhesives activity and has decided that the best way to maximize the potential of this activity is to run it within the Flooring Systems division.

The investments in markets, technologies, and production facilities made in recent years provide a solid basis for further developing this business.

Jochen Schwemmle, who was in charge of the industrial adhesives activity in Central, Northern and Eastern Europe in the Forbo Group, will be running it within Flooring Systems as of January 1, 2013. Jochen Schwemmle, 49, a German national, worked for many years in a variety of management positions in industrial companies before joining Forbo in 2010.

The building and construction adhesives activity employs a workforce of about 270 people and posted net sales of CHF 100.4 million in the 2011 business year. Its main markets are Benelux, Germany, Russia, and Eastern Europe. It has production facilities in the Netherlands, Germany, and Russia.

About Forbo

Forbo is one of the leading manufacturer of floor coverings, building and construction adhesives, as well as power transmission and conveyor belt technology. The company employs a workforce of some 4,900 and has an international network of 24 production facilities and distribution companies as well as 36 sales organizations in 33 countries across the globe. The company generated net sales of CHF 1,203.8 million in the 2011 financial year and is headquartered in Baar in the canton of Zug, Switzerland. The Group company Forbo Holding Ltd is listed on the SIX Swiss Exchange (securities number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.S).

Source: Forbo

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