US RPM International acquires Australia's HiChem Paint Technologies

04 April 2012 14:41  [Source: ICIS news]

HOUSTON (ICIS)--RPM International has acquired Australia’s HiChem Paint Technologies for an undisclosed sum, the US-based coatings, sealants and building material group said on Wednesday.

HiChem makes automotive aftermarket coatings, as well as specialty coatings for industrial applications and home maintenance. It has annual sales of about $23m (€17m).

RPM said that HiChem will be part of its Rust-Oleum Group.

"This acquisition expands our presence in the Australian market with well-respected brands and enhances our operational capabilities in the region by providing new distribution channels and local manufacturing,” RPM CEO Frank Sullivan said.

($1 = €0.76)

By: Stefan Baumgarten
+1 713 525 2653

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