RPM acquires synthetic fiber manufacturer
Through its subsidiary The Euclid Chemical Company, RPM International Inc. has acquired PSI Packaging, Inc. (PSI), a producer of micro- and macro-fibers for the ready-mixed and pre-cast concrete market. With headquarters and manufacturing located in LaFayette, GA/USA, PSI has annual sales of approximately $6 million. PSI, which was founded in 1999 by its four current owners and executive officers, will become part of Euclid Chemical, a unit of RPM’s building solutions group that serves construction markets worldwide. PSI will provide both a complementary product line to existing Euclid Chemical fiber products, as well as manufacturing capacity and expertise.