Rust-Oleum Acquires Dutch Specialty Coatings Company
March 16, 2010
RPM International Inc. announced that its subsidiary, Rust-Oleum Corporation, has acquired Chemtec Chemicals BV, a manufacturer of industrial cleaners and specialty coatings based in the Netherlands. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed. Headquartered in Rotterdam, Chemtec has annual sales of approximately $6 million. Its primary products are specialty cleaners used for a broad range of exterior surfaces. In addition, Chemtec offers specialty, anti-slip and anti-graffiti coatings. They are predominantly sold directly to cleaning and painting contractors with the remainder through paint stores.