RPM, INC. COMPLETES ACQUISITION OF STONHARD, INC.
MEDINA, Ohio, Oct. 26 /PRNewswire/ -- RPM, Inc. (NASDAQ: RPOW) today announced that the acquisition of Stonhard, Inc. has been completed on a pooling-of-interest basis. With annual sales of $100 million, Stonhard is the worldwide leader of industrial and commercial polymer flooring and related products. The company has manufacturing facilities in Maple Shade, N.J., and Fort Wayne, Ind., as well as sales/distribution offices in Canada, Mexico, Europe and the Far East. In addition, independent distributors market the company's products in more than 45 countries worldwide. Stonhard will continue to operate under the leadership and direction of Jeffrey M. Stork, president, and his experienced management team. RPM, Inc. is a manufacturer of industrial coatings and sealants for waterproofing and general maintenance, corrosion control and other specialty chemical applications. RPM also manufactures consumer do-it- yourself products for home maintenance, automotive repair, consumer hobby, leisure and marine markets. The fiscal year ended May 31, 1993, was RPM's 46th consecutive record year of sales, earnings and earnings per share, with restated sales of $674.5 million, earnings of $41.1 million and earnings per share of $.83. RPM shares are traded on the NASDAQ National Market System. -0- 10/26/93 /CONTACT: Thomas C. Sullivan or James A. Karman of RPM, 216-273-5090/ (RPOW)
CO: RPM, Inc.; Stonhard, Inc. ST: Ohio, New Jersey IN: CHM CST SU: TNM
BM -- CL030 -- 6858 10/26/93 14:15 EDT
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|Date:||Oct 26, 1993|
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