MEDINA, Ohio, Sept. 12, 2016 /CNW/ -- RPM International
Inc. (NYSE: RPM) today announced that it has acquired Specialty
Polymer Coatings, Inc. (SPC), a Canadian manufacturer of
high-performance coatings for the global oil and gas pipeline
market with annual net sales of approximately $26 million. It will operate as a free-standing
business within the RPM Performance Coatings Group and report
through the Carboline Company. Terms of the transaction, which is
expected to be accretive to earnings within one year, were not
disclosed.
The SPC product line is comprised predominantly of 100-percent
solids epoxy and urethane coatings that contain no volatile organic
compounds. They are specified and sold for the maintenance and
construction of steel pipes, railway cars, tank linings, steel
structures and marine applications. Headquartered near Vancouver, in Langley, British Columbia, SPC also has a
manufacturing facility in Brantford,
Ontario, and an office and warehouse in Angleton, Texas.
"We already have a strong position in the U.S. oil and gas
energy market through our Carboline business. The acquisition of
SPC complements that position by providing a proven, tenured
technology with strong brand recognition for the pipeline industry.
We intend to accelerate SPC's growth by leveraging Carboline's
large global sales force," stated Frank C.
Sullivan, RPM chairman and CEO. "In keeping with our
reputation as the best home for entrepreneurial businesses in our
industry, several members of the current senior leadership under
the founder, Bob Alliston, will
continue to manage the business as part of RPM."
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.