RPM
International Inc. (NYSE: RPM) today announced that it has acquired Nudura
Corporation, the leading manufacturer and distributor of insulated
concrete forms (ICF) in North America. Based in Ontario, Canada, Nudura
has annual net sales in excess of $40 million. Terms of the transaction,
which is expected to be accretive to earnings within one year, were not
disclosed.
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Pictured is one of Nudura’s insulated concrete forms (ICF) being installed. Nudura provides four series of ICF wall systems, consisting of foam boards made from expanded polystyrene and integral hinged plastic webs that hold both sides of the boards together. Concrete is then poured into the form to make an insulated concrete wall system. (Photo: Business Wire)
Nudura provides four series of ICF wall systems, consisting of foam
boards made from expanded polystyrene (EPS) and integral hinged plastic
webs that hold both sides of the boards together. Concrete is then
poured into the form to make an insulated concrete wall system. Nudura
also offers a range of complementary building envelope products. A niche
and emerging product in the building materials industry, ICFs provide
enhanced energy efficiency and superior insulation, as well as greater
resistance to fire, hurricanes, earthquakes and flooding, compared to
traditional construction methods.
The company has three strategically located manufacturing plants and an
extensive network of 260 locally based professional distributors in key
North American markets. Its patented products are sold to design
professionals, architects and contractors for residential and commercial
applications. They are used to construct homes, schools, medical and
commercial facilities, and other buildings that can benefit from the
insulative and structural properties of ICF construction.
Nudura will operate within the RPM Specialty Products Group as a
stand-alone operating unit of RPM’s Dryvit business. Dryvit is the
leading manufacturer of exterior insulation and finish systems (EIFS) in
North America and the innovator of NewBrick, a lightweight, energy
efficient brick product.
“Nudura is an excellent strategic fit that offers several key
competitive advantages for Dryvit. Its product line will complement and
expand Dryvit’s existing product offering, allowing for enhanced
cross-selling opportunities,” stated Frank C. Sullivan, chairman and CEO
of RPM. “At the same time, Nudura’s manufacturing footprint will be
leveraged for efficiencies in the manufacturing of Dryvit’s NewBrick
product, as well as products of other companies within our Specialty
Products Group.”
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 Russell L. Gordon, vice president and
chief financial officer, at 330-273-5090 or rgordon@rpminc.com.
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, 2018, 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.
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