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RPM INTERNATIONAL INC.
2008 ANNUAL REPORT
ACQUISITION NEWS
RPM 'Seals' Deals
Coatings and Sealants Company Completes
Nine Acquisitions During FY08
Key Fiscal-Year 2008 Acquisitions
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Increte Systems (United States)
Date Acquired: March 11, 2008
Sales: $15 million
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Flowcrete Group (United Kingdom)
Date Acquired: April 7, 2008
Sales: $85 million
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Star Maling Group (Norway)
Date Acquired: September 25, 2007
Sales: $30 million
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Productos Cave S.A. (Chile)
Date Acquired: December 6, 2007
Sales: $6 Million
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Finnaren & Haley (United States)
(marine and industrial assets)
Date Acquired: June 1, 2007
Sales: $10 million
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Prosytec SAS (France)
Date Acquired: March 5, 2008
Sales: $39 million
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August 20, 2008 – Cleveland, OH – Acquisitions
are a key component of RPM’s business strategy
and typically are expected to generate about half
of the company’s annual sales growth. Over the
past 10 years, RPM has acquired more than
44 businesses. During fiscal 2008, RPM kept
up the rapid pace and acquired nine companies
generating $200 million in combined sales. Six
were of businesses outside North America, which
will further expand RPM’s global footprint.
As the domestic
economy cools, this is
an important strategic
move that will help
sustain the company’s
consistent growth.
- Increte Solidifies Bond with Euclid
Chemical• Increte, as the leading U.S.
manufacturer of decorative concrete systems,
is expected to solidify a strong bond within
The Euclid Chemical Company, a manufacturer
of concrete admixtures and a wholly owned
subsidiary of RPM. Increte’s concrete systems
economically recreate the look of natural
stone, wood, tile, brick and pavers. One
current project is Visitor Experience at the
Cliffs of Moher, Ireland’s top tourist attraction.
- Flowcrete Floors Its Customers • Flowcrete
serves “the world at your feet” with a wide
range of decorative and high-performance
resin flooring systems. Sold to applicators,
contractors and end users, its products
are predominately used in manufacturing
plants, stadiums, schools, hospitals, parking
decks and other industrial or commercial
environments that require lasting, decorative
seamless systems. Based in England, Flowcrete
has grown aggressively in Europe and Asia.
Among its recent applications is an epoxy
terrazzo floor at the heavily trafficked
Disneyland Hong Kong, which annually
entertains millions of visitors.
- Star Maling Sets Sail with Carboline • A
joint venture partner since 1972, Star Maling
was acquired by RPM’s StonCor Group and
will be complementary to its Carboline
corrosion coatings business. Star Maling
is a leading manufacturer and marketer
of specialty coatings for industrial and
offshore/marine applications in Scandinavia.
It offers coatings solutions predominately
for the petrochemical, offshore drilling and
marine markets. The Star Maling acquisition
expands the range of Carboline’s customized
coating solutions for harsh environmental
conditions and strengthens its global presence
and support of multinational customers.
Additionally, it will complement the technical
capacity and expertise of StonCor Group’s
European organization and broaden the
distribution of its Stonhard and Fibergrate
product lines into the Scandinavian market.
- Latin American Reach Expanded by
Productos Cave • Productos Cave S.A.,
headquartered in Santiago, Chile, is a
premier manufacturer of high-performance
restoration, waterproofing and concrete
admixture products for various segments
of the concrete and masonry construction
industry. Acquired by Euclid Chemical,
Productos Cave expands Euclid’s geographic
reach throughout Latin America and
complements its other operations in Mexico,
Colombia and Central America. Currently
under way is the application of Productos
Cave’s products to the Osorno Hotel and
Casino, a 700,000-square-foot project being
constructed in southern Chile.
- Carboline Lands F&H Marine and
Industrial Assets • Carboline strengthened
its position as a leading supplier of specialty
marine coatings with the acquisition of the
marine and industrial assets of Finnaren &
Haley. Its products are sold throughout the
U.S. and internationally, and consist of a full
line of new construction and maintenance
coatings for tug boats, barges, work boats,
U.S. government vessels and other shipyard
customers. With the acquisition of Finnaren &
Haley’s marine and industrial assets, Carboline
further expands its product line and sales
organization serving national marine owners
and shipyards.
- Tremco illbruck Seals Prosytec Deal •
Tremco illbruck International, the European
operating platform of RPM’s Tremco business,
purchased Prosytec SAS from a subsidiary of
Goodrich Corporation. Prosytec, a leading
provider of sealants for the construction and
window assembly markets in southern and
eastern Europe, is headquartered in Paris.
It had been a long-time partner of Tremco
and served major European markets under
a licensing arrangement since 1997. One
marquee project is the structural silicone on
the glass pyramids at the world-renowned
Louvre Museum in Paris. The addition of
Prosytec enhances Tremco’s already strong
sealants business in Europe.
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