MEDINA, Ohio, Jan. 11 /PRNewswire-FirstCall/ -- RPM International Inc. announced today that its subsidiary, The Euclid Chemical Company ("Euclid Chemical"), has acquired Tamms Industries, Inc. ("Tamms"). Terms were not disclosed.
Tamms, headquartered in Kirkland, IL, is a premier manufacturer of high- performance restoration, protection and waterproofing products for various segments of the concrete construction industry. Euclid Chemical, based in Cleveland, OH, is part of RPM's Tremco Group and is an industry-leading provider of concrete and masonry construction products.
Tamms has annual sales of approximately $20 million and is expected to be accretive to earnings within the year.
Frank C. Sullivan, president and chief executive officer of RPM, said, "This acquisition reflects RPM's continued strategy to acquire synergistic product lines and businesses for our operating companies. Tamms furthers Euclid Chemical's deliberate efforts to consolidate leading companies within the construction products industry, and will help them achieve their ambitious, long-term growth goals. The additional market, operational and managerial resources that Tamms brings will be highly complementary, and we are confident in Euclid Chemical's ability to strategically leverage this acquisition."
Tamms markets epoxies, concrete restoration products, adhesives, coatings, grouting, traffic deck systems and waterproofing products under respected brands such as Dural, Speed Crete(R), Tamms and Chemstop(R). The company employs more than 60 people and operates two manufacturing facilities, located in Kirkland and Sheffield, IL.
Euclid Chemical employs more than 450 people and operates numerous manufacturing facilities and warehousing depots across North America. Their products, marketed under the highly regarded Euco brand, include concrete and masonry admixtures, curing and sealing compounds, epoxy adhesives and coatings, dry shake floor hardeners and toppings, cementitious and epoxy grouts, joint fillers and sealants, and a complete line of concrete restoration materials.
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, automotive and boat repair and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust- Oleum, DAP, Varathane, Bondo and Testors.
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.
For more information, contact Glenn R. Hasman, vice president - finance and communications, at 330-273-8820 or
