RPM Acquires Leading Provider of Insulated Concrete Forms
September 11 2018 - 4:15PM
Business Wire
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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version on businesswire.com: https://www.businesswire.com/news/home/20180911005821/en/
RPM International Inc.Russell L. Gordon, 330-273-5090Vice
President and Chief Financial Officerrgordon@rpminc.com
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