MEDINA, Ohio, March 16, 2015 /PRNewswire/ -- RPM
International Inc. (NYSE: RPM) today announced that its Rust-Oleum
Group has acquired Spraymate Group, the producer of South Africa's leading aerosol paint brand.
Based outside of Johannesburg, South
Africa, Spraymate has annual net sales of approximately
$5 million. Terms of the transaction, which is expected to be
accretive to earnings within one year, were not disclosed.
The majority of Spraymate's sales are in the decorative/retail
market through both big box stores and independent dealers under
the Spraymate brand, while the company also provides marking paints
to the mining industry under the Mine Mate brand.
"This acquisition gives Rust-Oleum, which has been building its
presence in South Africa by
importing products, the opportunity to utilize Spraymate's
manufacturing and distribution capabilities. Spraymate will benefit
from Rust-Oleum's product innovation, marketing capabilities and
category management," stated Frank C.
Sullivan, RPM chairman and chief executive officer. "RPM
looks forward to welcoming the Spraymate management team, led by
managing director Warren Howell, son
of one of the firm's founders, to the RPM family of
businesses."
About RPM
RPM International Inc. owns subsidiaries that are world leaders
in specialty coatings, sealants, building materials and related
services for both industrial and consumer markets. RPM's industrial
products include roofing systems, sealants, corrosion control
coatings, flooring coatings and specialty chemicals. Industrial
companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete,
Day-Glo, Dryvit and Euclid Chemical. RPM's consumer products are
used by professionals and do-it-yourselfers for home maintenance
and improvement and by hobbyists. Consumer brands include
Rust-Oleum, DAP, Zinsser, Varathane and Testors. Additional details
can be found at www.RPMinc.com and by following RPM on Twitter at
www.twitter.com/RPMintl.
For more information, contact Barry M.
Slifstein, vice president - investor relations and planning,
at 330-273-5090 or bslifstein@rpminc.com.
This press release contains "forward-looking statements"
relating to our business. These forward-looking statements, or
other statements made by us, are made based on our expectations and
beliefs concerning future events impacting us, and are subject to
uncertainties and factors (including those specified below) which
are difficult to predict and, in many instances, are beyond our
control. As a result, our actual results could differ materially
from those expressed in or implied by any such forward-looking
statements. These uncertainties and factors include (a) global
markets and general economic conditions, including uncertainties
surrounding the volatility in financial markets, the availability
of capital and the effect of changes in interest rates, and the
viability of banks and other financial institutions; (b) the
prices, supply and capacity of raw materials, including assorted
pigments, resins, solvents and other natural gas- and oil-based
materials; packaging, including plastic containers; and
transportation services, including fuel surcharges; (c) continued
growth in demand for our products; (d) legal, environmental and
litigation risks inherent in our construction and chemicals
businesses and risks related to the adequacy of our insurance
coverage for such matters; (e) the effect of changes in interest
rates; (f) the effect of fluctuations in currency exchange rates
upon our foreign operations; (g) the effect of non-currency risks
of investing in and conducting operations in foreign countries,
including those relating to domestic and international political,
social, economic and regulatory factors; (h) risks and
uncertainties associated with our ongoing acquisition and
divestiture activities; (i) risks related to the adequacy of our
contingent liability reserves; and (j) other risks detailed
in our filings with the Securities and Exchange Commission,
including the risk factors set forth in our Annual Report on Form
10-K for the year ended May 31, 2014, as the same may be
updated from time to time. We do not undertake any obligation to
publicly update or revise any forward-looking statements to reflect
future events, information or circumstances that arise after the
date of this release.
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SOURCE RPM International Inc.