RPM Acquires Leader in Rust Stain Removal Products
MEDINA, Ohio–(BUSINESS WIRE)–RPM
International Inc. (NYSE: RPM) today announced that its Rust-Oleum
business group has acquired Whink
Products, a specialty cleaners manufacturer and marketer that is the
market share leader in the rust stain removal segment. Based in
Eldora, Iowa, Whink has 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.
Whink provides a broad range of specialty products, including premium
rust, carpet and laundry stain removers; cooktop, countertop and wood
cleaners; mineral deposit removers; and drain and septic system
treatments. Among its leading brands are Rust Stain Remover and Rust
Guard. They are sold through major retailers, home centers and grocery
chains.
“In addition to providing us with the leading brand in the rust stain
removal segment, Whink will also accelerate our expansion into other
indoor cleaning solutions, adding a breadth of offerings to our rapidly
growing Krud Kutter program,” stated Frank C. Sullivan, RPM chairman and
chief executive officer. “We welcome the Whink team to the RPM family of
entrepreneurial specialty chemical companies.”
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,
Euclid
Chemical and RPM
Belgium Vandex. 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,
Legend
Brands, Kop-Coat
and TCI.
Additional details can be found at www.rpminc.com
and by following RPM on Twitter at www.twitter.com/RPMintl.
For more information, contact Barry M. Slifstein, vice president –
investor relations, at 330-273-5090 or [email protected].
This press release contains “forward-looking statements” relating to our
business. These forward-looking statements, or other statements made by
us, are made based on our expectations and beliefs concerning future
events impacting us, and are subject to uncertainties and factors
(including those specified below) which are difficult to predict and, in
many instances, are beyond our control. As a result, our actual results
could differ materially from those expressed in or implied by any such
forward-looking statements. These uncertainties and factors include (a)
global markets and general economic conditions, including uncertainties
surrounding the volatility in financial markets, the availability of
capital and the effect of changes in interest rates, and the viability
of banks and other financial institutions; (b) the prices, supply and
capacity of raw materials, including assorted pigments, resins, solvents
and other natural gas- and oil-based materials; 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 liability reserves; 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, 2017, as the same may be updated from time to
time. We do 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.
Contacts
RPM International Inc.
Barry M. Slifstein, 330-273-5090
Vice
President – Investor Relations
[email protected]
