RPM Acquires Australian Waterproofing Materials Manufacturer
MEDINA, Ohio, July 5, 2016 - RPM International Inc. (NYSE: RPM) today announced that its Tremco Group has acquired the assets of Duram Industries Pty Limited, an Australian-based manufacturer of a comprehensive range of commercial waterproofing products with annual net sales of approximately $6 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Duram's liquid-applied waterproofing materials serve a broad array of above-grade waterproofing needs for brick, EIFS (exterior insulation and finish systems), stucco and noise suppression walls. They are also utilized for horizontal and below-grade applications, including pedestrian, vehicular traffic, balcony and thin-set, as well as foundation waterproofing and split slab. Due to a brand reputation for consistent, quality materials and exceptional service, the company has developed a loyal following of customers.
"Tremco intends to leverage its acquisition of Duram to broaden the geographic footprint of its commercial sealants and roofing systems in the Australian market," stated Frank C. Sullivan, RPM chairman and chief executive officer. "Duram's in-market manufacturing will provide expanded sourcing opportunities and higher customer service levels. At the same time, Tremco will leverage the combined resources to expand the reach of Duram's products throughout the country."
About RPM
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments. RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction chemicals. Industrial companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete, and Euclid Chemical. RPM's consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement and by hobbyists. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane and Testors. RPM's specialty products include industrial cleaners, colorants, exterior finishes, specialty OEM coatings, edible coatings, restoration services equipment and specialty glazes for the pharmaceutical and food industries. Specialty segment companies include Day-Glo, Dryvit, RPM Wood Finishes, Mantrose-Haeuser, RPM Belgium, Legend Brands, Kop-Coat, and TCI. Additional details can be found at www.rpminc.com.
For more information,
contact
Barry M. Slifstein,
vice president - investor relations,
at 330-273-5090 or bslifstein@rpminc.com.
SOURCE RPM International Inc.
