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NOEL GROUP COMPLETES INITIAL PUBLIC OFFERING

            NOEL GROUP COMPLETES INITIAL PUBLIC OFFERING
    NEW YORK, Jan. 30 /PRNewswire/ -- Noel Group, Inc. (NASDAQ: NOEL),


sold 10 million shares of common stock in its initial public offering today at an offering price of $11 per share.
    Noel Group, which now trades on the National Market System (NASDAQ) under the symbol NOEL, conducts its principal operations through small and medium-sized operating companies in which it holds a controlling or significant equity interest.  Its holdings include four public companies Global Natural Resources Inc. (NYSE: GNR), Sylvan Foods Holdings, Inc. (NASDAQ: SYLN), Garnet Resources Corp. (NASDAQ: GARN), and VISX, Inc. (AMEX: VISX) and one private company, Simmons Outdoor Corporation.
    The company intends to use the proceeds of the offering principally to finance future acquisitions and also for working capital and to support its operating companies.
    The underwriters for the offering were Shearson Lehman Brothers Inc., Oppenheimer & Co., Inc., and Smith Barney, Harris Upham & Co. Inc. Following the sale of stock Noel has 20,192,233 shares outstanding.
    -0-        1/30/92
    /CONTACT:  Donald R. Dwight of Noel, 203-661-8480/
    (NOEL) CO:  Noel Group, Inc. ST:  New York IN: SU:  OFR SM -- NY120 -- 5479 01/30/92 16:56 EST
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Publication:PR Newswire
Date:Jan 30, 1992
Words:196
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