MEDINA, Ohio, March 11 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM) announced today that its wholly owned subsidiary, The Euclid
Chemical Company of Cleveland, Ohio, has acquired Increte Systems of Odessa,
Florida. With sales of approximately $15 million, Increte is the nation's
leading manufacturer of decorative concrete systems that economically recreate
the look of natural stone, wood, tile, brick and pavers using concrete. Terms
of the acquisition were not disclosed.
RPM's president and chief executive officer, Frank C. Sullivan, stated,
"We are very excited to have acquired Increte's comprehensive decorative
product line, along with its all-inclusive manufacturing processes and
training capabilities. Increte has been exceedingly successful in
establishing a leadership position in the decorative concrete industry. This
acquisition provides the springboard to propel Euclid Chemical forward in this
growing market segment."
The existing Increte management team will remain in place and the company
will operate as a stand alone business unit of Euclid Chemical reporting to
Moorman Scott, Euclid Chemical's executive vice president.
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, boat repair and maintenance,
and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane,
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 (including those specified below) 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 (a) general economic conditions; (b)
the prices and availability of raw materials, including assorted resins and
solvents; 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
liabilities, including for existing and future asbestos-related claims; 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, 2007, as the same may be updated from time to
time. RPM 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 release.
SOURCE RPM International Inc.
P. Kelly Tompkins
executive vice president and chief
administrative officer of RPM International Inc.