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ALCO FORMS NEW OPERATING GROUP

 ALCO FORMS NEW OPERATING GROUP
 VALLEY FORGE, Pa., July 30 /PRNewswire/ -- Alco Standard Corporation


(NYSE: ASN) today announced the formation of a new operating group, Alco Diversified Services.
 The Group will be comprised of the 11 companies of the former Triumph Group, as well as two paper converting companies that previously were part of Alco's Paper Corporation of America, and Aerospace Technologies. Revenues for the Group are approximately $340 million.
 Ray B. Mundt, chairman of Alco Standard, said, "This new Group, representing diversified manufacturing and service intensive industries, produces high returns on sales and strong cash flow. We believe that opportunities will emerge from this group to grow a substantial new business for Alco."
 Mundt added, "Alco's history demonstrates its capacity to build new exciting businesses with substantial market presence out of a diversified base of companies. The formation of this group is another step in our commitment to build value for our shareholders over the long term. It allows us to continue to pursue a highly focused strategy in our paper and office products businesses, while at the same time explore new opportunities in unrelated industries."
 Richard C. Ill has been named president of Alco Diversified Services, and Robert E. Janis will assume a new role as Senior Vice President. Both are Alco Standard veterans with experience in diverse industries. Ill, who joined Alco Standard in 1968, previously was president of The Triumph Group. Janis joined Alco in 1969 and has held various senior management positions, the most recent of which was president of Alco Food Systems.
 Alco Standard Corporation, headquartered in Valley Forge, is a publicly owned distribution and services company. For its fiscal year ended Sept. 30, 1991, revenues were $4.8 billion.
 /delval/
 -0- 7/30/92
 /CONTACT: David B. Kirkland of Alco Standard, 215-993-3730, or at home, 215-542-9025/
 (ASN) CO: Alco Standard Corporation ST: Pennsylvania IN: PAP SU:


MK -- PH008 -- 4962 07/30/92 09:24 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
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