1
EXHIBIT 21.1
--------------
RPM, INC.
---------
The following is a list of the direct and indirect operating subsidiaries of
RPM, Inc. as of May 31, 1994:
Percentage of
Jurisdiction of Securities Owned
Name Incorporation By RPM, Inc. (1)(2)(3)
---- ------------- ----------------------
Bondex International, Inc. Ohio 100%
Consolidated Coatings Ohio 100%
Corporation
Day-Glo Color Corp. Ohio 100%
Kop-Coat, Inc. Ohio 100% (4)
Mameco International, Inc. Ohio 100% (5)
Republic Powdered Metals, Inc. Ohio 100% (6)
RPM of North Carolina, Inc. Ohio 100% (6)
RPM World Travel, Inc. Ohio 100%
Talsol Corp. Ohio 100%
Euchem, Inc. Ohio 100% (7)
The Testor Corporation Ohio 100%
Westgate Advertising, Inc. Ohio 100%
Label Systems Corporation Connecticut 100%
BSP Systems, Inc. Delaware 100% (6)
Carboline Company Delaware 100% (8)
Carboline International Delaware 100% (8)
Corporation
RPM World Trade, Inc. Delaware 100% (9)
Stonhard, Inc. Delaware 100% (10)
Wisconsin Protective Coatings Delaware 100% (11)
Corp.
PCI Industries, Inc. Florida 100% (12)
American Emulsions Co., Inc. Georgia 100% (13)
Dynatron/Bondo Corporation Georgia 100% (14)
Lubraspin Corporation Georgia 100% (13)
2
Percentage of
Jurisdiction of Securities Owned
Name Incorporation By RPM, Inc. (1)(2)(3)
---- ------------- ----------------------
Select Dye & Chemical, Inc. Georgia 100% (13)
Bradshaw-Praeger & Co., Inc. Illinois 100% (12)
Design/Craft Fabric Corporation Illinois 100%
RPM of Illinois, Inc. Illinois 100% (17)
Chemical Specialties Maryland 100%
Manufacturing Corporation
RPM of Mass, Inc. Massachusetts 100% (15)
Haartz-Mason, Inc. Massachusetts 100% (15)
Mantrose-Haeuser Co., Inc. Massachusetts 100% (12)
Westfield Coatings Massachusetts 100% (15)
Corporation
Craft House Corporation Michigan 100%
Carboline World-Wide Missouri 100% (8)
Corporation
William Zinsser and Co., New Jersey 100% (12)
Incorporated
Alox Corporation New York 100% (4)
Floquil-Polly S Color Corp. New York 100%
Mohawk Finishing Products, New York 100%
Inc.
Richard E. Thibaut, Inc. New York 100% (12)
Chemical Coatings, Inc. North Carolina 100%
Paramount Technical Products, South Dakota 100% (5)
Inc.
Briner Paint Mfg. Co. Texas 100% (11)
Sentry Polymers, Inc. Texas 100%
First Colonial Insurance Vermont 100%
Company
Bondex International Canada 100%
(Canada) Ltd.
Bondo Canada Limited Canada 100% (14)
Stonhard Canada Limited Canada 100% (10)
-2-
3
Percentage of
Jurisdiction of Securities Owned
Name Incorporation By RPM, Inc. (1)(2)(3)
---- ------------- ----------------------
RPM/Belgium N.V. Belgium 100% (8)
Radiant Color N.V. Belgium 100% (16)
Martin Mathys N.V. Belgium 100% (16)
RPM/France S.A. France 100%
Stonhard France SARL France 100% (10)
Stonhard GmbH Germany 100% (10)
Stonhard Latin America Mexico 100% (10)
RPM/Europe B.V. Netherlands 100% (16)
RPM/Netherlands B.V. Netherlands 100%
RPM/Luxembourg S.A. Luxembourg 100% (8)
<FN>
_____________________________________________
(1) The ownership of Directors' qualifying shares by persons other than
RPM, Inc. is not reflected in the stated percentage ownership.
(2) Included in the Company's consolidated financial statements.
(3) In addition, RPM, Inc. owns 100% of the outstanding shares of
Cal-O-Cam, Inc., a Michigan corporation, FOPECO, Inc., a New York
corporation, and RPM Finance N.V., a Netherlands Antilles corporation,
all of which are non-operating subsidiaries. The outstanding shares
of Alox International Sales Corp., a New York corporation which is a
non-operating subsidiary, are owned by Alox Corporation, a wholly
owned subsidiary of Kop-Coat, Inc., a wholly owned subsidiary of RPM,
Inc.
(4) Kop-Coat, Inc. owns 100% of the outstanding shares of Alox
Corporation, a New York corporation.
(5) Mameco International, Inc. owns 100% of the outstanding shares of
Paramount Technical Products, Inc., a South Dakota corporation.
(6) Republic Powdered Metals, Inc. owns 100% of the outstanding shares of
BSP Systems, Inc., a Delaware corporation. BSP Systems, Inc. and RPM
of North Carolina, Inc. each own 50% of AGR Company, an Ohio general
partnership.
(7) Euchem, Inc. owns 50% of The Euclid Chemical Company, an Ohio General
Partnership.
(8) Carboline Company owns 100% of the outstanding shares of Carboline
World-Wide Corporation and Carboline International Corporation.
Through Carboline International Corporation,
-3-
4
Carboline owns 100% of Carboline Dubai Corporation, a Missouri
corporation, and 100% of Carboline Marine, Ltd., a Delaware
corporation. Carboline International Corporation also owns less than
50% interests in corporations in Korea, Norway, Japan, India, and
Australia. Carboline International Corporation owns 12% of
RPM/Luxembourg S.A. and 4% of RPM/Belgium N.V., and the Company
directly owns the remaining 88% of RPM/Luxembourg S.A. and 96% of
RPM/Belgium N.V.
(9) DISC Corporation.
(10) Stonhard, Inc. owns 100% of the outstanding shares of Stonhard Canada
Limited, a Canadian federal corporation, Stonhard France SARL, a
France corporation, Stonhard GmbH, a Germany corporation, and Stonhard
Latin America, a Mexico corporation.
(11) Wisconsin Protective Coatings, Corp. owns 100% of the outstanding
shares of Briner Paint Mfg. Co., a Texas corporation.
(12) William Zinsser and Co., Incorporated owns 100% of the outstanding
shares of Bradshaw-Praeger & Co., Inc., an Illinois corporation,
Richard E. Thibaut, Inc., a New York corporation, PCI Industries,
Inc., a Florida corporation, and Mantrose-Haeuser Co., Inc., a
Massachusetts corporation.
(13) American Emulsions Co., Inc. owns 100% of the outstanding shares of
each of the following Georgia corporations: Lubraspin Corporation and
Select Dye & Chemical, Inc.
(14) Dynatron/Bondo Corporation owns 100% of the outstanding shares of
Bondo Canada Limited, an Ontario corporation.
(15) RPM of Mass, Inc. owns 100% of the outstanding shares of the following
Massachusetts corporations: Haartz-Mason, Inc. and Westfield Coatings
Corporation.
(16) RPM, Inc. owns 100% of RPM/Europe B.V., a Netherlands holding company.
Radiant Color N.V. is a Belgium operating company, of which RPM/Europe
B.V. owns 1,249 shares and RPM, Inc. owns 4 shares. Radiant Color
N.V. owns all of the outstanding shares of Martin Mathys N.V., a
Belgium corporation.
(17) Will be merged with and into Rust-Oleum Corporation, an Illinois
corporation, pursuant to which Rust-Oleum Corporation (as the
surviving corporation) will be acquired by RPM, Inc.
373/06821RPG.403
-4-