Download the
RPM Investor App
Sun Sun

News Release


Printer Friendly Version

RPM's StonCor Group Acquires Interest in Indian Manufacturer

         Strengthens Alliance with Kemrock Industries & Exports Ltd.

MEDINA, Ohio, Sept. 14 /PRNewswire-FirstCall/ -- RPM International Inc. (NYSE: RPM) announced today that its StonCor Group has acquired 14.99% of the outstanding shares of Kemrock Industries & Exports Ltd., an approximately $20 million fully integrated fiberglass reinforced plastic (FRP) composites manufacturer based in Vadodara, Gujarat State, India. Terms were not disclosed.

Frank C. Sullivan, president and chief executive officer of RPM, said, "This equity position in Kemrock further strengthens RPM's relationship with a business partner that has helped improve our Fibergrate subsidiary's competitive position in FRP and pultruded shapes over the past three years. Kemrock is well established in the Indian and Far East marketplaces, where we envision an even broader and more prosperous working relationship with Kalpesh Patel, the company's founder and managing director, and his management team going forward. This investment is indicative of the types of opportunities RPM is continuing to pursue in the dynamic Indian market."

Kemrock, which is traded on the Bombay Stock Exchange Ltd., produces FRP for industrial grating, wind turbine housings and for structural shapes, handrails, ladders, fork lift pallets and related products.

RPM's StonCor Group includes the company's Stonhard polymer flooring business unit and Carboline high performance corrosion control coatings business unit, in addition to Fibergrate.

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, Fibergrate 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.

For more information, contact Glenn R. Hasman, vice president - finance and communications, at 330-273-8820 or ghasman@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 price, supply and capacity of raw materials, including assorted resins and solvents; packaging, including plastic containers; and transportation services, including fuel surcharges; (c) continued growth in demand for the company's products; (d) legal, environmental and litigation risks inherent in the company's construction and chemicals businesses and risks related to the adequacy of the company's insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon the company's 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 the company's ongoing acquisition and divestiture activities; (i) risks related to the adequacy of its contingent liability reserves, including for asbestos-related claims; and other risks detailed in the company's other reports and statements filed with the Securities and Exchange Commission, including the risk factors set forth in the company's prospectus and prospectus supplement included as part of the company's Registration Statement on Form S-4 (File No. 333-120536), as the same may be amended 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.

CONTACT: Glenn R. Hasman, vice president - finance and communications of
RPM International Inc., 1-330-273-8820, or ghasman@rpminc.com
Web site: http://www.rpminc.com
(RPM)


©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