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GUARDSMAN PRODUCTS AGREES TO PURCHASE THE INDUSTRIAL COATINGS BUSINESS OF THE STULB COMPANY

GUARDSMAN PRODUCTS AGREES TO PURCHASE THE INDUSTRIAL COATINGS BUSINESS
 OF THE STULB COMPANY
 GRAND RAPIDS, Mich., May 4 /PRNewswire/ -- Guardsman Products, Inc. (NYSE: GPI) today announced that it has entered into an agreement to purchase the industrial coatings business and certain assets of The Stulb Company of Allentown, Pa.
 The Stulb Company manufactures and markets a broad line of general industrial, high-solids metal coatings. Its products are sold principally in the Mid-Atlantic states region of the United States. Stulb's fiscal 1991 sales of industrial coatings amounted to approximately $3 million.
 Charles E. Bennett, president and chief operating officer of Guardsman, stated, "The Stulb business will be an excellent addition to our presence in the Northeastern United States. The resultant increased utilization of our manufacturing facility in the region, together with the technology and management personnel which we will add, make this a very exciting opportunity for both parties."
 Guardsman Products, Inc. is a producer of custom industrial coatings and diversified consumer products.
 -0- 5/4/92
 /CONTACT: Edward D. Corlett, corporate vice president and chief financial officer, Guardsman Products, Inc., 616-957-2600/
 (GPI) CO: Guardsman Products, Inc.; The Stulb Company ST: Michigan, Pennsylvania IN: SU: TNM


SM -- DE020 -- 6099 05/04/92 13:40 EDT
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Publication:PR Newswire
Date:May 4, 1992
Words:204
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