Acquisition Expands Industrial and Marine Coatings Business in the
MEDINA, Ohio, Sept. 25 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM) announced today that its subsidiary, StonCor Group ("StonCor")
acquired Star Maling ("Star Maling"), which consists of three divisions: Star
Maling, Carboline Marine and Carboline Norge. Star is a leading manufacturer
and marketer of specialty coatings for industrial and offshore/marine
applications in the Scandinavia, and has been an RPM joint venture partner
since 1972. Terms were not disclosed.
Star Maling, based in Lier, Norway, manufactures specialty coatings under
the Star Maling and Carboline brands, offering a wide variety of coatings
solutions predominately in the petrochemical, offshore drilling, and marine
Star Maling has annual sales of approximately $30 million and complements
StonCor Group's European initiatives to improve the technical capacity and
expertise of the Carboline-Europe organization, as well as to expand the range
of customized coating solutions for harsh environmental conditions.
"Star Maling has been an outstanding partner for more than three decades,"
said David Reif, StonCor's President. "The Star acquisition is essential to
expand and strengthen Carboline's global presence and support of multinational
customers. Additionally, this acquisition will expand the distribution of our
Stonhard and Fibergrate product lines into the Scandinavian market. The
entire team is looking forward to working more directly with our long-time
partners to service our clients and solve the toughest coatings problems."
RPM International Inc., a holding company, owns subsidiaries that are
world leaders in specialty coatings and sealants serving both industrial and
consumer markets. RPM's industrial products include roofing systems,
sealants, corrosion control coatings, flooring coatings and specialty
chemicals. Industrial brands include Stonhard, Tremco, illbruck, Carboline,
Day-Glo, Euco, and Dryvit. RPM's consumer products are used by professionals
and do-it-yourselfers for home maintenance and improvement, automotive and
boat repair and maintenance, and by hobbyists. Consumer brands include
Zinsser, Rust-Oleum, DAP, Varathane, Bondo, and Testors.
For more information, contact P. Kelly Tompkins, executive vice president
and chief administrative officer, at 330-273-5090 or firstname.lastname@example.org.
This press release contains "forward-looking statements" relating to the
business of the company. These forward-looking statements, or other statements
made by the company, are made based on management's expectations and beliefs
concerning future events impacting the company and are subject to
uncertainties and factors which are difficult to predict and, in many
instances, are beyond the control of the company. As a result, actual results
of the company could differ materially from those expressed in or implied by
any such forward-looking statements. These uncertainties and factors include,
but are not limited to, the risk factors set forth in the company's Annual
Report on Form 10-K for the year ended May 31, 2007, as the same may be
updated from time to time. The company does 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
SOURCE RPM International Inc.
CONTACT: P. Kelly Tompkins, executive vice president and chief
administrative officer of RPM International Inc., 1-330-273-5090,
Web site: http://www.rpminc.com