Acquisition Significantly Enhances Product and Service Offering
MEDINA, Ohio, Jan. 11 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM) announced today that its subsidiary, The Euclid Chemical Company
("Euclid Chemical"), has acquired Tamms Industries, Inc. ("Tamms"). Terms
were not disclosed.
Tamms, headquartered in Kirkland, IL, is a premier manufacturer of high-
performance restoration, protection and waterproofing products for various
segments of the concrete construction industry. Euclid Chemical, based in
Cleveland, OH, is part of RPM's Tremco Group and is an industry-leading
provider of concrete and masonry construction products.
Tamms has annual sales of approximately $20 million and is expected to be
accretive to earnings within the year.
Frank C. Sullivan, president and chief executive officer of RPM, said,
"This acquisition reflects RPM's continued strategy to acquire synergistic
product lines and businesses for our operating companies. Tamms furthers
Euclid Chemical's deliberate efforts to consolidate leading companies within
the construction products industry, and will help them achieve their
ambitious, long-term growth goals. The additional market, operational and
managerial resources that Tamms brings will be highly complementary, and we
are confident in Euclid Chemical's ability to strategically leverage this
Tamms markets epoxies, concrete restoration products, adhesives, coatings,
grouting, traffic deck systems and waterproofing products under respected
brands such as Dural, Speed Crete(R), Tamms and Chemstop(R). The company
employs more than 60 people and operates two manufacturing facilities, located
in Kirkland and Sheffield, IL.
Euclid Chemical employs more than 450 people and operates numerous
manufacturing facilities and warehousing depots across North America. Their
products, marketed under the highly regarded Euco brand, include concrete and
masonry admixtures, curing and sealing compounds, epoxy adhesives and
coatings, dry shake floor hardeners and toppings, cementitious and epoxy
grouts, joint fillers and sealants, and a complete line of concrete
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, automotive and boat repair
and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-
Oleum, DAP, Varathane, Bondo and Testors.
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, supply and capacity of raw materials, including assorted resins and
solvents; packaging, including plastic containers; and transportation
services, including fuel surcharges; (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. 333-120536), 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.
For more information, contact Glenn R. Hasman, vice president - finance
and communications, at 330-273-8820 or firstname.lastname@example.org.
SOURCE RPM International Inc.
CONTACT: Glenn R. Hasman, vice president - finance and communications of
RPM International Inc., 1-330-273-8820, or email@example.com
Web site: http://www.rpminc.com