RPM Acquires Leader in Rust Stain Removal Products
December 04 2017 - 4:11PM
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 bslifstein@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, 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171204006112/en/
RPM International Inc.Barry M. Slifstein, 330-273-5090Vice
President – Investor Relationsbslifstein@rpminc.com
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