High-Performance Coatings Manufacturer Joins RPM Family of Products
June 07 2021 - 4:34PM
Business Wire
RPM International Inc. (NYSE: RPM) today announced that its
Carboline subsidiary has acquired the Dudick Inc. business. A
provider of high-performance coatings, flooring systems and tank
linings, Dudick is headquartered in Streetsboro, Ohio, and has
annual net sales of approximately $10 million. Terms of the
transaction were not disclosed.
Founded in 1970, Dudick is a manufacturer of high-performance
linings and secondary containment coatings, providing solutions for
corrosion resistance and chemical containment systems across a
broad range of applications including food processing, steel
production, chemical processing, pulp and paper, electronics, power
and biological research labs. The company’s products are
manufactured in the U.S., with additional manufacturing
relationships in Taiwan and South Korea, and are distributed
worldwide. The Dudick business will become part of RPM’s Carboline
subsidiary, which is a leading U.S. manufacturer of
high-performance industrial coatings, linings and fireproofing
products.
“Dudick will be a natural fit in our Performance Coatings Group,
bringing with them a strong reputation for high-quality products
and excellent service built under the leadership of Tom Dudick,”
stated Frank C. Sullivan, RPM chairman and CEO. “This acquisition
of the Dudick business will allow Carboline to strengthen its
position in the secondary containment linings market with an
established and trusted product while simultaneously opening the
door to expanded sales and future growth opportunity
worldwide.”
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/20210607005740/en/
Russell L. Gordon vice president and chief financial officer
330-273-5090 rgordon@rpminc.com
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