RPM Makes 2021 Fortune 500
June 02 2021 - 4:24PM
Business Wire
Distinguished list recognizes company’s growth
over the past year
RPM International Inc. (NYSE: RPM) a world leader in specialty
coatings, sealants and building materials, today announced it was
named to the Fortune 500 list of America’s largest corporations by
revenue. With revenues of approximately $5.5 billion for its fiscal
year ended May 31, 2020, RPM ranks number 489, marking the
company’s first return to the list since 1994.
“Our return to the prestigious Fortune 500 is an enormous
achievement for RPM, particularly when you consider that we reached
this milestone amidst a global pandemic that strained economies
worldwide,” stated Frank C. Sullivan, RPM chairman and CEO. “The
credit goes to our 15,000 hard-working associates around the world
who were able to continue growing revenues while also implementing
an operating improvement program we called MAP to Growth.”
A contributing factor to the company’s top-line success over the
past year was an increase in do-it-yourself home repair,
maintenance and decorating projects spurred by the Covid-19
pandemic. This led to an increased demand for RPM’s consumer
coatings, sealants, and other products for beautifying, improving,
and protecting the home. They are sold under such highly regarded
brand names as Rust-Oleum, DAP and Zinsser.
“We expect that many who were non-DIYers previously will
continue to use their newfound talents and our products as well,”
Sullivan continued. “At the same time, we are well positioned for
accelerated growth on the industrial side of our business, which
makes up about 65% of our revenue, as vaccines are administered and
the impact of the pandemic diminishes, resulting in industrial
customers catching up on maintenance and energy markets recovering.
Our industrial companies will also benefit from demand for their
products created by the passage of an infrastructure bill in the
U.S.”
“Our increased efficiency from our MAP to Growth program,
combined with our long history of growing our top line is a one-two
punch that is very powerful in terms of our ability to compete and
win in the consumer and industrial markets we serve. It has us
poised for another decade of growth and success,” stated
Sullivan.
Now in its 67th year, the Fortune 500 ranks U.S. companies by
total revenues for their previous fiscal year, highlighting
companies that generate $14.2 trillion in revenue, represent
two-thirds of U.S. GDP and employ tens of millions of people
worldwide. For the complete Fortune 500 list, visit
https://fortune.com/fortune500/.
About RPM
RPM International Inc. owns subsidiaries that are world leaders
in specialty coatings, sealants, building materials and related
services. The company operates across four reportable segments:
consumer, construction products, performance coatings and specialty
products. RPM has a diverse portfolio with hundreds of
market-leading brands, including Rust-Oleum, DAP, Zinsser,
Varathane, Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and
Dryvit. From homes and workplaces, to infrastructure and precious
landmarks, RPM’s brands are trusted by consumers and professionals
alike to help build a better world. The company employs
approximately 14,600 individuals worldwide. Visit www.RPMinc.com to
learn more.
For more information, contact Russell L. Gordon, vice president
and chief financial officer, at 330-273-5090 or
rgordon@rpminc.com.
Forward-Looking Statements
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 and metal 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) the timing of and the realization of
anticipated cost savings from restructuring initiatives and the
ability to identify additional cost savings opportunities; (j)
risks related to the adequacy of our contingent liability reserves;
(k) risks relating to the outbreak of the coronavirus (Covid-19);
and (l) 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, 2020, 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/20210602006030/en/
Russell L. Gordon vice president and chief financial officer
330-273-5090 rgordon@rpminc.com
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