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Coatings giants RPM International and AkzoNobel are reaching ever deeper into Europe, with RPM acquiring the Spanish fire-protection business Grupo P&V and AkzoNobel swallowing Germany’s Schramm Holding.
RPM Extends Fire Protection Portfolio
RPM’s Coatings Performance Group announced this week that it had acquired the Grupo P&V group of companies, a major European supplier of passive fire protection and insulation products.
Headquartered in Barcelona, Spain, Grupo just completed its own acquisition and has annual sales of about $23 million. Terms of the RPM transaction were not disclosed.
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Grupo P & V |
| RPM’s new business, Grupo P&V (Perlite and Vermiculite), specializes in products for passive fire protection, and cryogenic and heat insulation. The company’s projects include this liquefied natural gas tank in Murcia, Spain. |
Grupo is a vertically integrated concern that manufactures, markets and installs expanded perlite and vermiculite (P&V) for passive fire protection, soundproofing, and cryogenic and heat insulation applications.
Perlite is a general term for a naturally formed silicate; vermiculite is a mineral from the mica family mainly formed by aluminum, magnesium and iron silicates.
Carboline Complement
“This acquisition expands our fireproofing and insulation capabilities, and in conjunction with our Carboline product portfolio, we expect it to help further expand our fire protection and corrosion control market throughout Europe,” said Frank C. Sullivan, RPM chairman and CEO.
In addition to Carboline, RPM’s many industrial brands include Stonhard, Tremco, illbruck, Carboline, Euco, Flowcrete and Universal Sealants. Industrial sales make up two-thirds of RPM’s sales, and the business segment just reported double-digit growth for the first quarter of fiscal year 2012.
Grupo will continue to be led by its current management team and owners, including founder Isidro Marques and Alvaro Boter.
Earlier this year, Grupo P&V extended its own range of products by acquiring the bankrupt Asoes Condal, which had been in business since 1969. Grupo integrated the Asoes Condal production lines into its Villirana operation over the summer.
AkzoNobel Acquires Schramm, SSCP
On Friday (Oct. 7), AkzoNobel announced that it had completed its acquisition of more than 95 percent of the shares of coatings manufacturer Schramm Holding AG. The deal was first announced in June.
The world’s largest paint and coatings company also said it would finalize its related purchase of Korean SSCP’s coatings business by Nov. 1.
Based in Germany and listed on the Hong Kong Stock Exchange, Schramm manufactures and markets coatings for plastics, metals and electrical insulation as well as coil coatings for aluminum. The specialty coating company, founded in 1810 as a product paint and varnish maker, reported global revenues of f €115 million (about $155 million USD) in 2010.
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SSCP |
| AkzoNobel has purchased SSCP’s coatings business, as well as SSCP’s majority stake in Schramm Holding AG. Schramm dates to 1810. |
SSCP took over Schramm in 2007 and was the majority shareholder until Friday’s deal.
“This is an important step for Industrial Coatings, making us the global leader in specialty plastic coatings for mobile devices, laptops, TVs and automotive interiors,” said Conrad Keijzer, Managing Director of AkzoNobel Industrial Coatings.
Schramm CEO Peter Brenner will become director of the new specialty plastic coatings business.
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