MEDIA RELEASE PR36456
RPM's Carboline Subsidiary Acquires Majority Interest in Indian Joint Venture
MEDINA, Ohio, Oct. 7 /PRNewswire-AsiaNet/ --
RPM International Inc. (NYSE: RPM), a holding company of global specialty coatings, building materials and
services businesses, today announced that its Carboline subsidiary has acquired a majority interest in its Indian
joint venture, CDC Carboline India Pvt. Ltd. Terms of the transaction, which is expected to be accretive to earnings
within one year, were not disclosed.
Based in Chennai, India, CDC Carboline India manufactures corrosion protection and fireproofing products
predominately for the petrochemical, power, fabrication, and commercial and industrial fireproofing markets. The
company has annual sales of approximately $8 million.
As a result of this transaction, Carboline, which is part of RPM's Performance Coatings Group, will own an 80
percent majority position in CDC Carboline India. The company's founder, Daniel Chittayagam, will retain 20
percent ownership and remain as managing director.
"This ownership stake in CDC Carboline India will enable us to further expand our position in the vibrant and
growing Indian marketplace, and specifically to participate in India's continued emphasis on infrastructure
development with our Carboline products, as well as products from our other RPM Performance Coatings
businesses," stated Frank C. Sullivan, RPM chairman and chief executive officer.
About RPM
RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings,
sealants, building materials and related services 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, boat repair and
maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane and Testors.
For more information, contact P. Kelly Tompkins, executive vice president - administration and chief financial
officer, at 330-273-5090 or ktompkins@rpminc.com.
This press release contains "forward-looking statements" relating to our business. These forward-looking
statements, or other statements made by us, are made based on our expectations and beliefs concerning future
events impacting us, and are subject to uncertainties and factors (including those specified below) which are
difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ
materially from those expressed in or implied by any such forward-looking statements. These uncertainties and
factors include (a) global markets and general economic conditions, including uncertainties surrounding the
volatility in financial markets, the availability of capital and the effect of changes in interest rates, and the viability of
banks and other financial institutions; (b) the prices, supply and capacity of raw materials, including assorted
pigments, resins, solvents and other natural gas- and oil-based materials; packaging, including plastic containers;
and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d) legal,
environmental and litigation risks inherent in our construction and chemicals businesses and risks related to the
adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of
fluctuations in currency exchange rates upon our 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 our ongoing acquisition
and divestiture activities; (i) risks related to the adequacy of our contingent liability reserves, including for asbestos-
related claims and warranty obligations; and (j) other risks detailed in our filings with the Securities and Exchange
Commission, including the risk factors set forth in our Annual Report on Form 10-K for the year ended May 31,
2009, as the same may be updated from time to time. We do 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: P. Kelly Tompkins, executive vice president - administration, chief financial officer, of RPM, +1-330-
273-5090, ktompkins@rpminc.com
(RPM)
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