MEDIA RELEASE PR36257
RPM's Stonhard Subsidiary Acquires Australian Distributor
MEDINA, Ohio, Sept. 23 /PRNewswire-AsiaNet/ --
Ascoat acquisition to strengthen position in Australia and
provide springboard for further Asian market penetration
RPM International Inc. (NYSE: RPM), a worldwide specialty coatings and
building materials and services holding company, today announced that its
Stonhard subsidiary, part of RPM's Performance Coatings Group, has acquired
Ascoat Contracting Pty Ltd and Ascoat Pty Ltd, a supplier and installer of
polymer flooring systems. Terms of the transaction, which is expected to be
accretive to earnings within one year, were not disclosed.
Based in Melbourne, Victoria, Australia, and with annual sales of
approximately $5 million, Ascoat has been Stonhard's exclusive Australian
distributor since 1996. Founded in 1988, Ascoat will continue to be led by
its existing owners, John Black and Terry Callaghan.
Ascoat serves primarily industrial markets, with a focus on food
processing, pharmaceutical and general manufacturing. Ascoat's capabilities
include turnkey contracting, floor care services, consultation,
specification, installation and warranties.
"We see this acquisition as a near-term opportunity to broaden the base
of our Stonhard business throughout Australia given Ascoat's strong base in
Victoria," stated Frank C. Sullivan, RPM chairman and chief executive
officer. "This will also give our Performance Coatings Group a strategic
platform for further penetration of the Asia-Pacific region."
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) 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 (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 and
chief financial officer of RPM International Inc.,
+1-330-273-5090,
ktompkins@rpminc.com
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