Strengthens Alliance with Kemrock Industries & Exports Ltd.
MEDINA, Ohio, Sept. 14 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM) announced today that its StonCor Group has acquired 14.99% of the
outstanding shares of Kemrock Industries & Exports Ltd., an approximately $20
million fully integrated fiberglass reinforced plastic (FRP) composites
manufacturer based in Vadodara, Gujarat State, India. Terms were not
Frank C. Sullivan, president and chief executive officer of RPM, said,
"This equity position in Kemrock further strengthens RPM's relationship with a
business partner that has helped improve our Fibergrate subsidiary's
competitive position in FRP and pultruded shapes over the past three years.
Kemrock is well established in the Indian and Far East marketplaces, where we
envision an even broader and more prosperous working relationship with Kalpesh
Patel, the company's founder and managing director, and his management team
going forward. This investment is indicative of the types of opportunities
RPM is continuing to pursue in the dynamic Indian market."
Kemrock, which is traded on the Bombay Stock Exchange Ltd., produces FRP
for industrial grating, wind turbine housings and for structural shapes,
handrails, ladders, fork lift pallets and related products.
RPM's StonCor Group includes the company's Stonhard polymer flooring
business unit and Carboline high performance corrosion control coatings
business unit, in addition to Fibergrate.
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, Fibergrate 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 - finance
and communications, at 330-273-8820 or email@example.com.
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.
SOURCE RPM International Inc.
CONTACT: Glenn R. Hasman, vice president - finance and communications of
RPM International Inc., 1-330-273-8820, or firstname.lastname@example.org
Web site: http://www.rpminc.com