MEDINA, Ohio, Jan. 3, 2017 /PRNewswire/ -- RPM
International Inc. (NYSE: RPM) today announced that it has acquired
the foam division of Clayton Corporation, best known for its
consumer polyurethane foam brand Touch 'N Foam, to be part of its
DAP business. Based near St. Louis,
Missouri, the foam division of Clayton Corporation has
annual net sales of approximately $60
million. Terms of the transaction, which is expected to be
accretive to earnings within one year, were not disclosed.
The company markets two low-pressure, spray-polyurethane foam
brands, Touch 'N Foam for the consumer do-it-yourself market and
Touch 'N Seal for the professional industrial market. They are used
around homes, buildings and other structures to eliminate air leaks
and drafts, seal gaps and cracks, and insulate against the
elements. These brands primarily serve the North American market.
The acquired product range will be marketed as part of the overall
DAP product portfolio, which includes caulks and sealants,
construction adhesives, general purpose adhesives, and other patch
and repair products.
"The addition of Touch 'N Foam polyurethane expands DAP's
product coverage, while providing a cost-effective U.S.
manufacturing and technology platform," stated Frank C. Sullivan, RPM chairman and chief
executive officer. "We intend to harness DAP's category management
and marketing expertise to improve Touch 'N Foam's placement and
market impact. At the same time, we will leverage the Touch 'N Foam
sales organization to aggressively market DAP core products into
new channels and accounts."
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, Euclid Chemical and RPM Belgium Vandex. 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.