MEDINA, Ohio, Dec. 14 /PRNewswire-FirstCall/ -- RPM International Inc. (NYSE: RPM) today announced that its subsidiary, Rust-Oleum Corporation, has acquired FibreGrid Limited, a supplier of fiberglass anti-slip safety products based in the United Kingdom. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
FibreGrid, which has annual sales of approximately $3.5 million, manufactures innovative glass reinforced plastic safety products for anti-slip applications such as stair tread covers and noses, riser plates, ladder rungs, decking strips, flooring and matting. Among its clients are small businesses, warehouses, schools and municipalities. Most of FibreGrid's orders involve custom cutting and colors, 24-hour turnaround and small quantities.
"FibreGrid will become a business unit within our Watco UK Limited business, which is part of Rust-Oleum. Watco has been selling FibreGrid products for many years, has a similar business model and can leverage its marketing expertise to support FibreGrid's growth. FibreGrid's founder, Rob Cousin, will remain involved in the business and his son, Scott, will continue running day-to-day operations," stated Frank C. Sullivan, RPM chairman and chief executive officer.
RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services 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 www.rpminc.com.
For more information, contact P. Kelly Tompkins, executive vice president and chief financial officer, at 330-273-5090 or email@example.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, including for asbestos-related claims and warranty obligations; 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, 2009, 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.
P. Kelly Tompkins, executive vice president and chief financial officer of RPM International Inc., +1-330-273-5090 or firstname.lastname@example.org