By Patrick Raleigh ERJ On-line news editor
Medina, Ohio-US coatings group RPM International Inc. has acquired Compakta/Pactan, the silicone adhesives division of Heidelberger Bauchemie GmbH, for an undisclosed amount.
RPM has established a new company, Compact Technology GmbH,
to operate the Traunreut, Germany-based firm under its existing management team, said a 30 March announcement.
Compakta/Pactan manufactures silicone-based adhesives, joint filler and sealers. Products are sold to the construction and building industry under the Compakta brand and to the automotive supplier, general and appliance OEM industries under the Pactan brand.
Compakta/Pactan's patented technology offers customers superior heat-resistant and adhesion characteristics that are unique in the marketplace, RPM claimed.
Medina-headquartered RPM is a holding company for a range of subsidiaries supplying speciality coatings to industrial and consumer markets. The group, which encompasses 68 manufacturing locations in 17 countries, posted 2003 sales of $2083 million.
About 55 percent of sales are generated by industrial products sold worldwide, and the remainder by branded consumer goods sold mainly in North America.
Industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and speciality chemicals. Consumer products are used for home maintenance and improvement, automotive and boat repair and maintenance, and by hobbyists.
The deal represents â€œour expanded emphasis on completing acquisitions in Europe, an important part of our growth strategy,â€ said Frank Sullivan, RPM's president and chief executive officer, in a press statement.