RPM, Inc. to Acquire the Automotive Division of Marson Corporation and Marson
Canada Inc.
MEDINA, Ohio, Jan. 14 /PRNewswire/ -- RPM, Inc. announced today that,
through its wholly owned subsidiary, Bondo/Mar-Hyde Corporation, it has
completed the acquisition of substantially all of the assets of the Automotive
Division of Marson Corporation and Marson Canada Inc. in exchange for RPM
stock.
Marson Automotive is a leading supplier of products to the automotive
paint, body and equipment market. The company manufactures a complete line of
auto body fillers. In addition, Marson Automotive distributes a diverse group
of other automotive products including shop tools, rivets and rivet tools,
masking supplies, aerosol products, professional chemicals, paint spray
guns, and fasteners.
Marson Corporation, headquartered in Chelsea, Massachusetts, is a leading
manufacturer of blind, open-ended rivets and rivet tools for the industrial
and automotive markets. Marson Corporation is owned by Orion Partners, L.P.,
a Boston-based private equity fund, and Marson's management.
RPM, Inc., headquartered in Medina, Ohio, is a manufacturer of industrial
coatings and sealants for waterproofing and general maintenance, corrosion
control and other specialty chemical applications. RPM also manufactures
do-it-yourself products for home maintenance, automotive repair, customer
hobby, leisure and marine markets. The fiscal year ended May 31, 1996 was
RPM's 49th consecutive record year of sales, earnings and earnings per share,
with sales of $1.1 billion, net earnings of $68.9 million and earnings per
share of $.90. RPM shares are traded on the Nasdaq Stock Market under the
symbol RPOW.
SOURCE RPM, Inc.
CONTACT: Thomas C. Sullivan or James A. Karman of RPM, 3 |
