Rust-Oleum acquires Dutch specialty coatings company

Medina, Ohio-based RPM International, parent company of Rust-Oleum, has announced the acquisition of Chemtec Chemicals, a manufacturer of industrial cleaners and specialty coatings based in the Netherlands.

Terms of the transaction, which are expected to be accredited to earnings within one year, were not disclosed.

"Chemtec fits well within our growing stable of European businesses. We expect to significantly enhance Chemtec product sales by leveraging the vast distribution channels of our Rust-Oleum, Mathys, Tor and Watco operations in Europe, which will broaden Chemtec's geographic reach," said Frank Sullivan, RPM chairman and CEO.

Chemtec, headquartered in Rotterdam, has annual sales of approximately $6 million.