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RPM'S Performance Coatings Group Acquires Norwegian Flooring Coatings Business
RPM International Inc. announced that its Performance Coatings Group has acquired Hummervoll Industribelegg AS, a supplier and installer of industrial flooring systems based in Bergen, Norway, with annual sales of more than $11 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Hummervoll, founded in 1980 by Per Hummervoll, serves both onshore and offshore markets with its concrete- and epoxy-based flooring systems. Its onshore division primarily focuses on the food, manufacturing and chemical industries. The offshore division provides flooring solutions for oil platforms, barricade decks and emergency escape routes.
"The addition of Hummervoll to the RPM Performance Coatings Group presents both top- and bottom-line growth opportunities for RPM. In particular, it broadens our presence in Scandinavia by expanding our overall product line, sales force, installation teams and customer base," stated Frank C. Sullivan, RPM chairman and chief executive officer.
Date Posted: June 17, 2010
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