RPM Business Acquires UK-Based Provider of Drainage Systems
By Rpm International Inc., PRNEMonday, December 20, 2010
MEDINA, Ohio, December 21, 2010 - RPM International Inc. (NYSE: RPM) today announced that its RPM
Performance Coatings Group has acquired Pipeline & Drainage Systems Ltd.
(PDS), a leading supplier of kerb, bridge and channel drainage products for
construction and infrastructure markets, primarily in the United Kingdom and
Ireland. Based in Wakefield, England, PDS has annual sales of approximately
$8 million. Terms of the transaction, which is expected to be accretive to
earnings within one year, were not disclosed.
Founded in 2000, PDS is one of the United Kingdom's leading drainage
systems specialists and offers complete solutions for projects, from the
initial design and specification through supply and installation. Its Enviro
line of products is made from recycled materials and offers significant
weight, handling and cost advantages over traditional drainage systems. PDS
will operate as a stand-alone business of Universal Sealants (UK) Ltd. (USL),
an RPM subsidiary that supplies coatings and construction products for
bridges and large infrastructure projects.
"We intend to leverage RPM's established sales and distribution network
to take the PDS product line deeper into the European marketplace. In
particular, this acquisition of PDS complements our USL business and
strengthens its already strong position in the UK infrastructure market,"
stated Frank C. Sullivan, RPM chairman and chief executive officer. "We're
pleased to have Chris Rothery, Greg Parkin and the entire PDS management team
join the RPM family of businesses."
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, Flowcrete, Universal Sealants and
Euco. 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. Additional details are available at www.rpminc.com.
For more information, contact Robert L. Matejka, senior vice president
and chief financial officer, at +1-330-273-5090 or rmatejka@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; (j) risks and uncertainties associated with
the SPHC bankruptcy proceedings; and (k) 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, 2010, 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.
Robert L. Matejka, senior vice president and chief financial officer, +1-330-273-5090, rmatejka at rpminc.com
Tags: December 21, Medina, Ohio, Rpm International Inc., United Kingdom