Announcement - Guertin Coatings Sale - Winnipeg, Manitoba

    WINNIPEG, Feb. 29 /CNW/ - Mr. Phil Guertin, President of Guertin
Coatings, Sealants and Polymers Ltd., announced the sale of the Company to
Cloverdale Paint Inc. of Surrey, British Columbia, effective today.
    Founded in 1947 by Antoine and Norbert Guertin, the company has been
operated by Phil and Brother Charlie since 1987. Guertin Coatings produces
liquid and powder industrial coatings, resins, sealants and adhesives in a
78,000 square foot manufacturing facility at Winnipeg, Manitoba. Distribution
is through its main 22,000 square foot distribution facility in Winnipeg and
other independent distributors throughout North America and Internationally.
    Cloverdale Paint directly, and through subsidiary companies in Calgary,
Alberta (Far-go Paint Inc.) and Portland, Oregon (Rodda Paint Company),
operates manufacturing plants in Surrey, Portland, Winnipeg, Edmonton and
Calgary. Distribution of architectural and industrial coatings and related
products is through 107 corporate branches throughout Western Canada and the
Pacific Northwest of the United States.
    Wink Vogel, Chairman of Cloverdale Paint advises he is extremely pleased
with the compatibility and synergies of Guertin and Cloverdale. Both are
private western Canadian owned firms and serve the industrial coatings market.
Cloverdale intends to operate Guertin as a separate entity with existing
management and to maintain Guertin's products, distribution, brands and
Winnipeg manufacturing facility.

For further information:

For further information: C.A. (Al) Mordy, President and CEO of
Cloverdale Paint Inc., (604) 596-6261; or Phil Guertin, President of Guertin
Coatings, Sealants and Polymers Ltd.

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