Download the
RPM Investor App
Sun Sun

News Release


Printer Friendly Version

RPM International Acquires UK-Based Flowcrete Group

Acquisition Expands Global Resin Flooring Presence
MEDINA, Ohio, April 7, 2008, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- RPM International Inc. (NYSE: RPM) announced today the acquisition of Flowcrete Group ("Flowcrete"), a leading global manufacturer and marketer of resin flooring systems for industrial and commercial applications. Flowcrete, established in 1982 and headquartered near Manchester, England, has sales of approximately $85 million. Terms were not disclosed.

Flowcrete's wide range of decorative and high-performance flooring systems are sold to applicators, contractors and end users under the Flowcrete, Flowfresh, Isocrete, Deckshield and Mondeco brands. These flooring systems are predominately used in manufacturing plants, stadiums, schools, hospitals, parking decks and other industrial or commercial environments that require lasting, decorative seamless systems.

Flowcrete has expanded aggressively in international markets, especially Europe and Asia, and represents an opportunity for further penetration into the growing global resin/seamless floor market. Flowcrete will remain a stand-alone business under its current management team led by managing director, Mark Greaves. Mr. Greaves will report to RPM group operating president, Dave Reif.

"We are excited to bring the Flowcrete Group into the RPM family," stated Frank C. Sullivan, RPM's president and chief executive officer. "In this fast growing and highly fragmented market, service and reputation are critical to long-term growth. Flowcrete is a strong global franchise with an excellent team of people, led by Mark Greaves, which is committed to providing its customers with world class flooring products and solutions. Mark's global vision for this business, coupled with his entrepreneurial operating philosophy, makes Flowcrete an ideal company to join RPM."

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 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, and 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 and chief administrative officer at 330-273-5090 or ktompkins@rpminc.com.

This press release contains "forward-looking statements" relating to the business of the company. These forward-looking statements, or other statements made by the company, are made based on management's expectations and beliefs concerning future events impacting the company and are subject to uncertainties and factors (including those specified below) which are difficult to predict and, in many instances, are beyond the control of the company. As a result, actual results of the company could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) general economic conditions; (b) the prices and availability of raw materials, including assorted resins and solvents; 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 liabilities, including for existing and future 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, 2007, as the same may be updated from time to time. RPM does 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.


©2017 RPM International Inc. Terms of Use | Privacy Policy 2628 Pearl Road - P.O. Box 777 - Medina, Ohio 44258 | Phone: 330.273.5090 | Email: info@RPMinc.com