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STANDARD BRANDS PAINT CO. ELECTS NEW PRESIDENT; MARKETING V.P. APPOINTED

STANDARD BRANDS PAINT CO. ELECTS NEW PRESIDENT; MARKETING V.P. APPOINTED
 TORRANCE, Calif., April 3 /PRNewswire/ -- Standard Brands Paint Co. (NYSE: SBP) announced today the election by it board of directors of Richard H. Loeffler as president and chief operating officer.
 "Richard Loeffler has been involved in crisis management for the past five years and was formerly president and COO of a New York Stock Exchange-listed company with a builders hardware division," stated Stuart D. Buchalter, chairman and chief executive officer of Standard Brands Paint Co. "A member of the board of directors of Standard Brands for the past 20 years, Mr. Loeffler's years of experience in operations and hands-on management will greatly enhance Standard Brand's progress towards a successful reorganization and emergence from Chapter 11."
 Additionally, the company announced the appointment of Brad Tukey as vice president of marketing and merchandising. In this new position, Tukey will head the company's marketing and merchandising efforts which focus on the retailing of paint and related products through its chain of retail paint stores. Tukey has 20 years of experience in the home improvement industry and formerly held key positions with Handyman and Home Club.
 Standard Brands Paint Co., which filed for voluntary Chapter 11 on Feb. 11, 1992, announced on March 19, 1992 the final approval of $17 million of debtor-in-possession financing from Foothill Capital Corp., which will be used for working capital needs and to ensure a steady flow of merchandise to its chain of retail paint stores.
 Standard Brands Paint Co. is a leading manufacturer, distributor and retailer of paint. The company operates 135 paint stores throughout eight western states serving the do-it-yourselfer.
 -0- 4/3/92
 /CONTACT: Craig Walker of Standard Brands, 310-214-2411, ext. 2391/
 (SBP) CO: Standard Brands Paint Co. ST: California IN: REA SU: PER


EH-KJ -- LA005 -- 4698 04/03/92 08:01 EST
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Publication:PR Newswire
Date:Apr 3, 1992
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