- Ecoloc N.V./Lock-Tile Belgium N.V., a specialized flooring system
- Compakta/Pactan specialty sealants and adhesives businesses in Germany
- Both businesses retain entrepreneurial management
- Acquisitions will boost RPM's growth in Europe
MEDINA, Ohio, March 30 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM), a leading specialty coatings manufacturer, announced today that
its European development office, RPM Europe SA, has acquired Ecoloc N.V./Lock-
Tile Belgium N.V. and Compakta/Pactan, a division of Heidelberger Bauchemie
GmbH. The acquired businesses will have combined sales of approximately EUR
20 million. Terms of the cash transactions were not disclosed.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010126/RPMLOGO )
"These transactions represent our expanded emphasis on completing
acquisitions in Europe, an important part of our growth strategy," said
Frank C. Sullivan, RPM's president and chief executive officer. "These
stand-alone niche businesses will fit nicely into the business we are growing
in Europe, and we are pleased that both will retain their experienced
management teams. These companies will provide leading share in niche
markets, positive cash flow, and will both be accretive to earnings
immediately. We welcome these businesses and their employees into the RPM
Ecoloc, a Belgian-based commercial and industrial tile flooring
manufacturer and marketer, pioneered the first flooring system based on the
principle of interlocking PVC tiles. Its products are sold under the names
Lock-Tile(R) and Lock-Mat(R). Patrick Stoop, the entrepreneurial founder, and
his management team will continue to operate Ecoloc under RPM's ownership.
Compakta/Pactan, based in Traunreut, Germany, is a manufacturer and
marketer of specialty silicone-based adhesives, joint filler and sealers. Its
silicone foam and adhesive products are sold to the construction and building
industry under the Compakta(R) brand and to the automotive supplier, general
and appliance OEM industries under the Pactan(R) brand. Compakta/Pactan's
patented technology offers customers superior heat-resistant and adhesion
characteristics that are unique in the marketplace. The existing experienced
management team of Erich Maier, Walter Mayerhofer, Friedrich Hamberger and
Dr. Michael Futscher will manage Compakta/Pactan as part of RPM's newly formed
Compact Technology GmbH.
RPM's development office in Europe, RPM Europe SA, based in Waterloo,
Belgium, will capture synergies in product sales, purchasing and
administrative functions among RPM's growing base of business in Europe. The
Ecoloc and Compact Technology managements will report directly to
Ulf S. Eriksson, president of RPM Europe SA.
"Ecoloc and Compact Technology are excellent additions to our European
base and will help broaden RPM's product offerings by expanding into related
markets and technologies," commented Eriksson. "We look forward to working
with both management teams and helping them to grow their businesses
throughout Europe and worldwide."
"We are excited about completing additional acquisitions in the years to
come," concluded Eriksson.
RPM International Inc., a holding company, owns subsidiaries that are
world leaders in specialty coatings serving both industrial and consumer
markets. Industrial products include roofing systems, sealants, corrosion
control coatings, flooring coatings and specialty chemicals. Consumer
products are used by professionals and do-it-yourselfers for home maintenance
and improvement, automotive and boat repair and maintenance, and by hobbyists.
Industrial brands include Stonhard, Tremco, Carboline, Day-Glo, Euco and
Dryvit. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane, Bondo
For more information, contact Glenn R. Hasman, vice president - finance
and communications for RPM at (330) 273-8820 or email@example.com.
This press release contains "forward-looking statements" based on
management's expectations and beliefs concerning future events and
circumstances 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 and market conditions in Europe; (b) the
ability of the acquired businesses to replicate past performance; (c) risks
and uncertainties associated with the company's ongoing acquisition and
divestiture activities; (d) the effect of fluctuations in currency exchange
rates upon the company's foreign operations; and (e) 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; and other risks detailed in the
company's other reports and statements filed with the Securities and Exchange
Commission, including the risk factors set forth in the company's prospectus
and prospectus supplement included as part of the company's Registration
Statement on Form S-3 (File No. 333-108647), as the same may be amended 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.
CONTACT: Glenn R. Hasman, vice president - finance and communications of
RPM, +1-330-273-8820, or firstname.lastname@example.org