Carboline Company Acquires Finnaren & Haley Marine & Industrial Assets


ST. LOUIS, June 1 -- Carboline Company announced today that it has acquired the Marine and Industrial Assets of Finnaren & Haley, a national supplier of marine, industrial and architectural products. Terms were not disclosed.

Finnaren & Haley is a well established, privately-held paint manufacturer and retailer headquartered in Conshohocken, PA. The marine and industrial coatings are sold throughout the USA and internationally, and consist of a full-line of new construction and maintenance coatings that are specified, sold and applied to U.S. government vessels, tug boats, barges, work boats and other shipyard customers/owners. Key customers are located throughout the USA. Finnaren & Haley marine coatings are also included as specifications for Army new construction, maintenance and for the Army Corps of Engineers.

Carboline Company is a wholly owned subsidiary of RPM International Inc. (NYSE:RPM) and is a world leader in high performance coatings, lining systems and fireproofing. Carboline provides a comprehensive line of products for the protection of steel and concrete substrates from both corrosion and fire damage. The company's products are widely used in the petrochemical, offshore drilling, marine, pipeline and terminal, bridge and highway, water and wastewater treatment, OEM, rail, pulp and paper, commercial architectural and other markets where long term asset protection is a high priority. The company serves these markets with an international sales force working directly with owners, engineers, manufacturers, fabricators and specialty applicators.

With the acquisition of Finnaren & Haley's Marine and Industrial Products, Carboline will have a complete product line and large sales organization to serve national marine owners and shipyards.

"We are excited about the opportunity the Finnaren & Haley product line offers us. Carboline now has the products and specifications to be a leading supplier of specialty marine products. This acquisition supports our long- term strategy of maintaining our leadership position in the industrial and marine coatings markets in North America and internationally," stated Richard M. Wilson, president, Carboline Company.

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 Carboline, Tremco, illbruck, Stonhard, 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.

Source: Carboline Company

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