MEDINA, Ohio, Sept. 9, 2016 /PRNewswire/ -- RPM
International Inc. (NYSE: RPM) today issued the following comments
in response to the Securities and Exchange Commission's
enforcement action filed in connection with the company's
previously disclosed restatement of its results for the first,
second and third quarters of fiscal 2013. The restatements had no
impact on the audited results for the fiscal year ended
May 31, 2013, and the company's audit
committee concluded that there was no intentional misconduct on the
part of any of its officers. Frank C.
Sullivan, chairman and chief executive officer of RPM
stated, "We believe the allegations have absolutely no merit and
are the product of prosecutorial overreach. We intend to vigorously
defend ourselves and expect our position to be vindicated in
court."
About RPM
RPM International Inc. owns subsidiaries
that are world leaders in specialty coatings, sealants, building
materials and related services across three segments. RPM's
industrial products include roofing systems, sealants, corrosion
control coatings, flooring coatings and other construction
chemicals. Industrial companies include Stonhard, Tremco, illbruck,
Carboline, Flowcrete, RPM Belgium, 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.
RPM's specialty products include industrial cleaners, colorants,
exterior finishes, specialty OEM coatings, edible coatings,
restoration services equipment and specialty glazes for the
pharmaceutical and food industries. Specialty segment companies
include Day-Glo, Dryvit, RPM Wood Finishes, Mantrose-Haeuser,
Legend Brands, Kop-Coat, and TCI. 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, 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, 2016, 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.