MEDINA, Ohio--(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.
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.”
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 email@example.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.