MEDINA, Ohio, July 25 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM) announced today that its wholly owned subsidiary, Tremco
Incorporated, has signed a definitive purchase agreement to acquire the
Illbruck Sealant Systems business ("Illbruck"), a high-performance sealant and
installation systems manufacturer located in Leverkusen, Germany.
With sales of approximately euro 160 million, Illbruck is a leading Pan-
European manufacturer of installation systems for mounting, fixing, assembling
and sealing pre-fabricated construction elements and window and door
applications. Illbruck's systems are highly specified throughout Europe and
are sold primarily to professional window and door applicators and to a lesser
extent direct to D-I-Y retailers. Illbruck's product line includes joint
sealing tapes, flashing tapes, cartridge sealants and adhesives, strips, foils
RPM's CEO, Frank C. Sullivan notes that, "Illbruck has a strong strategic
and cultural fit with RPM and its Tremco Sealants Division. Illbruck is a
highly recognized, premium brand throughout Europe and will provide increased
momentum in Europe's primary markets for additional Tremco and RPM products."
Illbruck was founded in 1952 by Willi and Christine Illbruck, and is
currently owned by Sabina and Michael Illbruck the daughter and son of the
founders. Mr. Sullivan added, "I would like to thank Sabina and Michael
Illbruck for their many years of service and significant contributions in
helping to build an outstanding company. It is RPM's objective to continue to
build upon the proud legacy of the Illbruck family for years to come."
The Illbruck management team, headed by Reiner Eisenhut, will continue to
operate Illbruck in coordination with Tremco's Sealant Group, which is managed
by Randy Korach. Mr. Korach noted, "We are excited about the people and the
product technologies that the Illbruck acquisition affords the Tremco Sealant
Group. This acquisition gives Tremco Sealants a global footprint in its core
waterproofing and sealant system technologies."
This transaction is anticipated to close after the appropriate European
government approvals, which are expected in four to six weeks.
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, 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 Glenn R. Hasman, vice president of finance
and communications, at 330-273-8820 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 price and supply of raw materials, particularly titanium dioxide, certain
resins, aerosols and solvents; (c) continued growth in demand for the
company's products; (d) legal, environmental and litigation risks inherent in
the company's construction and chemicals businesses and risks related to the
adequacy of the company's insurance coverage for such matters; (e) the effect
of changes in interest rates; (f) the effect of fluctuations in currency
exchange rates upon the company's 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
the company's ongoing acquisition and divestiture activities; (i) risks
related to the adequacy of its contingent liability reserves, including for
asbestos-related claims; 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-4 (File No. 333-114259), 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 of finance and communications of
RPM International Inc., +1-330-273-8820, or email@example.com