Contact Information: Company Contacts: Douglas J. Kramer CEO Paul Smiertka CFO Michael T. Adams CGO (281) 219-4700 (t) Investor Relations Contacts: Jody Burfening Elriz Martinez Lippert/Heilshorn & Associates (212) 838-3777 (t) emartinez@lhai.com
LaPolla Appoints Paul Smiertka as CFO
Brings 20 Years of Chemicals and Coatings Experience to Support LaPolla's Growth
| Source: LaPolla Industries, Inc.
HOUSTON, TX--(Marketwire - March 3, 2008) - LaPolla Industries, Inc. (OTCBB : LPAD ), 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.