Sep 29 2010
RPM International Inc. (NYSE: RPM) today announced that its Building Solutions Group has acquired Park Dis Ticaret A.S., a leading supplier of sealants, tapes and membranes to the construction markets in Turkey.
Based in Istanbul, Turkey, Park has annual sales of approximately $10 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Founded in 1994 by Adnan Akkin, Park distributes high-performance sealants, weatherseals, structural silicones, one-side and double-side adhesive tapes, and adhesives to customers in Turkey, Russia and the Middle East.
"This acquisition will provide Tremco illbruck and the RPM Building Solutions Group (BSG), a strong base from which to grow our international presence," stated Frank C. Sullivan, RPM chairman and chief executive officer. "As part of the RPM BSG, Park will also be able to expand its product offerings into new categories, such as firestopping. We look forward to having Adnan Akin and his management team join RPM."