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QUALITY PRODUCTS EXPANDS PRODUCT LINE WITH ACQUISITION

 TAMPA, Fla., Feb. 17 /PRNewswire/ -- Quality Products, Inc., (NASDAQ: QYPI) today announced that its wholly owned subsidiary Q.Y.P. Consumer Products Corporation has entered into an agreement to acquire PI Consumer Products Corporation of Hyannis, Mass., a wholly owned subsidiary of PI, Inc.
 PI Consumer Products Corporation sells a multitude of foam product lines, including pool and spa covers, camping equipment, duck and other decoys, kickboards, flooring products, children's toys and puzzles, and many other products.
 PI Consumer Products Corporation employs approximately sixty people and has production facilities located in Florida, Louisiana, and California with its national sales and marketing offices located in Hyannis, Mass. PI Consumer Products Corporation's current sales are approximately 8 million dollars, with the bulk of the sales to national chains such as K-Mart, Bradlees, Sam's Wholesale Club, F.W. Woolworths, Pace, Price Club, Sportstown, and many others.
 Quality Products is acquiring approximately 7 million dollars in assets with no debt for a purchase price of approximately 6 million dollars. A spokesman for Quality Products stated, "The acquisition of PI Consumer Product's line should rapidly facilitate Quality's consumer base in its other subsidiary Quality Toys. This acquisition also helps to solidify the relationship with Sentinel Products Corp., and should lead to a very successful relationship." Other terms regarding the acquisition have not been fully disclosed.
 -0- 2/17/93
 /CONTACT: Jim Renaldo of Quality Products, 813-963-1300/
 (QYPI)


CO: Quality Products, Inc.; PI Consumer Products Corp. ST: Florida, Massachusetts IN: HOU LEI SU: TNM

BM -- CL006 -- 7229 02/17/93 10:40 EST
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Publication:PR Newswire
Date:Feb 17, 1993
Words:257
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