Unassociated Document
Exhibit
99.1
LaPolla
Appoints Paul Smiertka as CFO
Brings
20 Years of Chemicals and Coatings Experience to Support LaPolla’s
Growth
HOUSTON,
TX—(MARKET WIRE)—March 3, 2008— LaPolla Industries, Inc. (OTC BB:LPAD.OB -
News), a leading manufacturer and distributor of foam and coating products, has
appointed Paul Smiertka as Chief Financial Officer and Treasurer, effective
today. Mr. Smiertka will assume these duties from Michael T. Adams,
Executive Vice President and Chief Governance Officer of the company, who has
been serving as interim chief financial officer and treasurer since February 19,
2008.
Mr.
Smiertka brings 20 years of progressive financial experience from BASF’s
Chemicals and Coatings businesses, most recently as Director, Finance and
Administration, BASF Intertrade. While at BASF, he also served as
Controller and Treasurer of two of BASF’s largest joint ventures worldwide, BASF
FINA, LP, a joint venture between BASF and ATOFINA, and Sabina Petrochemicals,
LLC, a tri-venture between BASF, ATOFINA and Shell. He also spent four years as
the Controller for Chemical Intermediates, and held various financial positions
in the Coatings and
Colorants Division. Prior to joining BASF,
Mr. Smiertka held financial analysis and budgeting positions at a number of
companies in the NY/NJ area. He earned his BS in Finance and MBA in Finance and
Accounting degrees from Fordham University.
“Paul’s
proven capabilities in financial planning, control and reporting combined with
his industry knowledge and experience at blending manufacturing facilities make
him a perfect fit for LaPolla,” said Douglas J. Kramer, president and chief
executive officer. “His skills will be invaluable in helping LaPolla maximize
the efficiency benefits of vertically-integrated operations, expand the
company’s sales and distribution coverage, and achieve sustainable
profitability. We look forward to Paul’s contribution to LaPolla’s growth plans
in the energy efficient residential construction market as we continue to
leverage our established brand and national presence to gain market
share.”
About LaPolla Industries,
Inc.
LaPolla
Industries, Inc. is a leading national manufacturer and distributor of foam and
coating products targeting commercial, industrial and residential applications
in the roofing and perimeter insulation construction industries. Additional
information about LaPolla is available on the World Wide Web at www.lapollaindustries.com.
Forward Looking
Statements
Statements
made in this press release that are not historical facts constitute
“forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, Section 21 of the Securities Exchange Act of 1934
and the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are necessarily estimates reflecting the best judgment of senior
management and express the Company’s opinions about trends and factors which may
impact future operating results. Any such forward-looking statements should be
considered in context with the various disclosures made by the Company about its
businesses including, without limitation, the risk factors described in its
periodic reports filed with the SEC. The Company undertakes no duty to update
any forward-looking statement to conform the statement to actual results or
changes in the Company’s expectations. For further information regarding risks,
uncertainties, and other factors associated with LaPolla’s business, please
refer to LaPolla’s SEC filings, including, but not limited to, its annual report
on Form 10-K and quarterly reports on Form 10-Q, which are available at www.lapollaindustries.com.
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Company
Contacts:
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Investor
Relations Contacts:
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Douglas
J. Kramer, CEO
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Jody
Burfening
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Paul
Smiertka, CFO
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Elriz
Martinez
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Michael
T. Adams, CGO
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Lippert/Heilshorn
& Associates
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(281)
219-4700 (t)
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(212)
838-3777 (t)
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emartinez@lhai.com
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