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KOHLBERG GROUP TO BUY THREE BUILDING PRODUCTS BUSINESSES FROM ABITIBI-PRICE

 KOHLBERG GROUP TO BUY THREE BUILDING PRODUCTS BUSINESSES
 FROM ABITIBI-PRICE
 NEW YORK, June 22 /PRNewswire/ -- An investor group formed by Kohlberg & Co., the merchant banking firm, announced today that it had reached agreement to purchase three manufacturing business units from Abitibi-Price (NYSE: ABY). The transaction is expected to close during the third quarter of this year.
 Each of the businesses being acquired produces leading specialty building products in key segments of the growing home improvement and construction markets. These products include hardboard paneling, tileboard and siding, as well as plastic mouldings, shutters and architectural trim.
 These businesses will be headed by George T. Brophy, a member of the investor group. Brophy was formerly president and chief executive officer of Morgan Products, Inc., a specialty building products company that Brophy led through a leveraged buy-out and eventual public offering. Prior to his Morgan tenure, he spent 17 years with Masonite Corp., the world's leading hardboard producer, where he rose to executive vice president and chief operating officer.
 Brophy said, "We are fortunate to obtain established, well- positioned product leaders in the home repair market. We believe strongly in the long-term growth prospects of that market, and feel confident that we will participate profitably in its growth."
 Kohlberg & Co. is a New York-based merchant banking firm which, with its investors, owns a portfolio of companies. Abitibi-Price is a producer of newsprint and uncoated groundwood papers, and is also a major converter and distributor of paper and other information-related products.
 -0- 6/22/92
 /CONTACT: Davis Weinstock or Fred Garcia or Susan Loewe, 212-953-2550, all of Clark & Weinstock, Inc., for Kohlberg & Co./
 (ABY) CO: Kohlberg & Co.; Abitibi-Price ST: New York, Ontario IN: CST SU: TNM


TQ-SB -- NY051 -- 2471 06/22/92 14:35 EDT
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Publication:PR Newswire
Date:Jun 22, 1992
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