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H.B. FULLER COMPANY WILL TAKE RESTRUCTURING AND FASB 106/109 CHARGES IN FOURTH QUARTER

 ST. PAUL, Minn., Nov. 3 /PRNewswire/ -- In its September 23 announcement of third quarter 1993 operating results, H.B. Fuller Company (NASDAQ-NMS: FULL) anticipated a number of restructuring measures that would have an impact on its fourth quarter 1993 earnings. The company announced today that those measures will result in an after- tax charge of $5 million to $6 million, or $.36 to $.43 in earnings per share, for the fourth quarter ending Nov. 30, 1993.
 The restructuring charge stems from the planned implementation of strategies intended to improve the long term profitability of the company. These strategies will include the closing of certain production facilities over the next two years, primarily in Latin America, and associated costs of consolidating their production into other facilities.
 The company also announced it will take an estimated net after-tax charge of $11.8 million, or $.84 per share, to reflect early adoption of the Financial Accounting Standards Board (FASB) Statement 106, "Employers' Accounting for Postretirement Benefits other than Pensions," and FASB 109, "Accounting for Income Taxes."
 Walter Kissling, president and chief operating officer, noted, "The environment in which we do business is dynamic and these actions will better position us to meet our challenge of growth in sales and earnings. These are part of our ongoing plans to lower costs. We will improve operating efficiencies and protect our market positions. Our goal is to move toward previous levels of profitability."
 H.B. Fuller is a worldwide manufacturer and marketer of adhesives, sealants, coatings, paints, and other specialty chemical products with Fiscal 1992 sales of $934 million.
 -0- 11/3/93
 /CONTACT: Bill Belknap, media relations, 612-647-3604, or Richard Edwards, investor relations, 612-647-3650; both of H.B. Fuller/
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CO: H.B. Fuller Company ST: Minnesota IN: CHM SU:

DB-CP -- MN026 -- 0319 11/03/93 16:51 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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