Acquisition to enhance product and consulting services opportunities in
growing trend toward energy efficient building design
MEDINA, Ohio, April 1 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM) today announced that its Tremco Incorporated subsidiary acquired
Canam Building Envelope Specialists Inc. (Canam), including its Zerodraft
weatherproofing division. Terms of the transaction, which is expected to be
accretive to earnings within one year, were not disclosed.
Based in Mississauga, Ontario, and with annual sales of approximately $6
million, Canam will become part of the Tremco Roofing and Building Maintenance
Division's subsidiary, Weatherproofing Technologies, Inc. (WTI), while
Zerodraft will join Tremco's Commercial Sealants and Waterproofing Division.
Canam is one of the leading building envelope contracting firms in North
America, with more than 25 years of experience. The term "building envelope"
typically refers to the exterior surface of a building's construction - the
foundation, roof, walls, windows and everything that connects them together -
including all aspects of the building's exterior design that impact energy
costs. Canam's consulting and contracting services business focuses on
evaluating the energy efficiency of building envelopes and dramatically
reducing energy costs through better air sealing and air barriers, including
new construction and retrofit contracting work, design consultation,
field-testing and installation. Zerodraft provides specialized retrofit
weatherstripping and distributes a variety of related insulation and sealant
"This acquisition complements our current portfolio of products and
services that help make buildings more energy efficient. The added consulting
capability and targeted product offering from Canam and Zerodraft address the
needs of architects, contractors and building owners for more energy efficient
building designs, whether in the context of new construction or renovation
work," stated RPM chairman and chief executive officer Frank C. Sullivan.
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 and Testors. Additional details are available at
For more information, contact P. Kelly Tompkins, executive vice president
- administration and chief financial officer, at 330-273-5090 or
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) general economic conditions; (b)
the price, 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 liabilities,
including for 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,
2008, 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.
SOURCE RPM International Inc.
P. Kelly Tompkins
executive vice president - administration
and chief financial officer of RPM International Inc.