RPM International Inc. recently announced that its subsidiary, The Euclid Chemical Co., has acquired PSI Packaging Inc. (PSI), a producer of micro- and macro-fibers for the ready-mixed and pre-cast concrete market. With headquarters and manufacturing located in LaFayette, GA, PSI has annual sales of approximately $6 million. The transaction is expected to be accretive to earnings within one year.
PSI will become part of Euclid Chemical, a unit of RPM’s Building Solutions Group that serves construction markets worldwide. PSI will provide a complementary product line to existing Euclid Chemical fiber products, as well as manufacturing capacity and expertise.
“This acquisition brings additional manufacturing and sales capacity for fibers used in concrete reinforcement to The Euclid Chemical Co. and RPM Building Solutions Group,” said Frank C. Sullivan, chairman and CEO of RPM. “As part of Euclid Chemical, PSI will expand its geographical product presence through Euclid Chemical’s strong international sales and marketing organization. We look forward to having the PSI team, led by Dave Bliek and Grant Beasley, join RPM.”
For additional details, visitwww.rpminc.com.
Euclid Chemical Acquires PSI Packaging
February 17, 2011