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October 18, 2007 |
StonCor Group, a subsidiary of Ohio-based holding company
RPM International Inc., has acquired Star Maling, a Norway-based
manufacturer of specialty coatings for industrial and marine
applications. Star and RPM have been joint venture partners
since 1972. Terms of the deal were not disclosed.
Star Maling
manufactures specialty coatings under the Star Maling and Carboline brands, offering
a variety of coatings solutions predominantly in the petrochemical, offshore
drilling, and marine markets. The company has annual sales of approximately $30
million. RPM International Inc., owns subsidiaries that manufacture specialty
coatings and sealants serving both industrial and consumer markets. The acquisition
of Star complements StonCor Group's European initiatives to improve the technical
capacity and expertise of the Carboline-Europe organization, as well as to expand
the range of customized coating solutions for harsh environmental conditions,
says the company in a release.
“The
Star acquisition is essential to expand and strengthen Carboline's global presence
and support of multinational customers,” says StonCor president David Reif. “Additionally,
this acquisition will expand the distribution of our Stonhard and Fibergrate
product lines into the Scandinavian market,” says Reif.
www.rpminc.com
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