RPM Acquires Australian Auto Repair and Industrial Coatings Business; Terms Not Disclosed

RPM International Inc. RPM announced today that its Rust-Oleum Group has acquired HiChem Paint Technologies Pty. Ltd., a leading Australian manufacturer of automotive aftermarket coatings, as well as specialty coatings for industrial applications and home maintenance. Based in Hallam, Australia, HiChem has annual sales of approximately $23 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed. HiChem manufactures and markets a wide range of vehicle repair, general industrial and home maintenance coatings and products for both do-it-yourselfers and professionals sold under the Motospray and HiChem brands.