RPM International
Inc. recently announced that its Carboline
subsidiary has acquired a majority interest in its Indian joint venture, CDC
Carboline India Pvt.
RPM International Inc., Medina, OH, recently announced that its
Carboline subsidiary has acquired a majority interest in its Indian joint
venture, CDC Carboline India Pvt. Ltd. Terms of the transaction, which is
expected to be accretive to earnings within one year, were not disclosed.
Based in Chennai,
India, CDC Carboline India
manufactures corrosion protection and fireproofing products predominately for
the petrochemical, power, fabrication, and commercial and industrial
fireproofing markets. The company has annual sales of approximately $8 million.
As a result of this
transaction, Carboline, which is part of RPM's Performance Coatings Group, will
own an 80% majority position in CDC Carboline India.
For more information, visitwww.rpminc.com.
RPM's Carboline Subsidiary Acquires Majority Interest in Indian Joint Venture (10/9/09)
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