RPM International – who owns Dryvit Systems – has acquired another EIFS manufacturer based out of Germany. While the news doesn’t affect Canada per-se, but does demonstrate that EIFS have a bright future going forward and that major players are willing to invest big money into the future of the industry.
MEDINA, Ohio, Dec. 1, 2011 /PRNewswire/ — RPM International Inc. (NYSE: RPM) announced today that its RPM Building Solutions Group (RPM BSG) has signed an agreement to acquire FEMA Farben + Putze GmbH (FEMA GmbH) of Ettlingen, Germany. FEMA GmbH, with annual sales of more than USD $40 million, is a leading manufacturer and supplier of External Insulating and Finishing Systems (EIFS) and complementary product lines to the German and French construction markets. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
“The addition of FEMA’s EIFS product line immediately enhances our capabilities to address the market for energy efficient and sustainable high-performance buildings in Germany, the current number one marketplace for EIFS in the world, and France, one of the fastest growing markets for EIFS. It also provides a platform to extend FEMA’s product systems through existing RPM subsidiary companies into other European countries,” stated Frank C. Sullivan, RPM chairman and chief executive officer.
“FEMA’s energy efficient cladding complements our Tremco illbruck building sealing technologies, allowing us to serve a larger portion of the market for energy efficient buildings,” stated Reiner Eisenhut, president and managing director of RPM BSG Europe.
FEMA GmbH will operate as a stand-alone business within RPM BSG Europe in conjunction with Tremco illbruck and the FEMA GmbH existing management team, which was developed by Heinz Fedder, founder and CEO, who will continue with the company in a consulting capacity.
About RPM
RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services serving both industrial and consumer markets. RPM’s industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Industrial brands include Stonhard, Tremco, illbruck, Carboline, Euco, Flowcrete and Universal Sealants. RPM’s consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane and Testors. Additional details are available atwww.rpminc.com.For more information, contact Robert L. Matejka, senior vice president and chief financial officer, at 330-273-5090 or [email protected].
