Acquisition Expands Specialty Coatings Business in the United KingdomMEDINA, Ohio, March 2, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- RPM International Inc.
(NYSE: RPM) announced today that its subsidiary, Rust-Oleum Corporation
("Rust-Oleum"), has acquired Tor Coatings Limited ("Tor"), a leading
manufacturer and marketer of specialty coatings in the United Kingdom. Terms
were not disclosed.
Tor is based in Birtley, England, and, in addition to selling specialty
coatings under the Tor brand, they also sell under the Blackfriars, Holdtite,
Solignum, Ratcliffe, and Macroplexx brands. Rust-Oleum, based in Vernon Hills,
IL, is a leading provider of specialty coatings used in both consumer and
Tor has annual sales of approximately $45 million and is expected to be
accretive to earnings within the year.
"This acquisition is an excellent strategic fit with our growing Rust-
Oleum business in Europe," said Frank C. Sullivan, RPM president and chief
executive officer. "In addition to expanding our technical expertise, we
strengthen our coatings presence in the consumer market in the UK and broaden
our distribution of industrial and commercial coatings. We look forward to
working closely with Tor's high-quality management team led by Colin Carter."
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.
For more information, contact P. Kelly Tompkins, executive vice president
and chief administrative officer, at 330-273-8883 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, 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 filings
with the Securities and Exchange Commission, including the risk factors set
forth in the company's Annual Report on Form 10-K for the year ended May, 31
2006, as the same may be updated 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.
P. Kelly Tompkins, executive vice president and chief administrative officer of RPM
International Inc., 1-330-273-8883 or email@example.com