RPM's Building Solutions Group Acquires Turkish Distributor
MEDINA, Ohio, Sept. 28 - RPM International Inc. (NYSE: RPM) today announced that its Building Solutions Group has acquired Park Dis Ticaret A.S., a leading supplier of sealants, tapes and membranes to the construction markets in Turkey. Based in Istanbul, Turkey, Park has annual sales of approximately $10 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Founded in 1994 by Adnan Akkin, Park distributes high-performance sealants, weatherseals, structural silicones, one-side and double-side adhesive tapes, and adhesives to customers in Turkey, Russia and the Middle East.
"This acquisition will provide Tremco illbruck and the RPM Building Solutions Group (BSG), a strong base from which to grow our international presence," stated Frank C. Sullivan, RPM chairman and chief executive officer. "As part of the RPM BSG, Park will also be able to expand its product offerings into new categories, such as firestopping. We look forward to having Adnan Akin and his management team join 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 330-273-5090 or firstname.lastname@example.org.
SOURCE RPM International Inc.
Robert L. Matejka,
senior vice president and chief financial officer,
Web Site: www.rpminc.com