Lapolla Industries Expands Product Offerings with Addition of GE Silicone Roof Coatings
New Products Broaden Lapolla’s Suite of Leading Energy-Saving Spray Foam Solutions
HOUSTON, TX — January 19, 2011 — Lapolla Industries, Inc. (“Lapolla”) (OTCBB: LPAD), a Houston based manufacturer and supplier of spray foam insulation, cool roof coatings and equipment designed to reduce energy consumption in the residential and commercial markets, for both new construction and retrofit applications, today announced a strategic alliance with Momentive Performance Materials Inc. (Momentive), an exclusive global licensee of
GE sealants and a leading global manufacturer of silicone sealants. As part of the alliance, Lapolla will distribute GE silicone roof coatings, an impressive complement to its leading line of acrylic elastomeric roof coatings. The addition ensures that Lapolla has one of the most varied and comprehensive product suites of energy-saving solutions to offer customers, both commercial and residential.
Douglas Kramer, President and CEO of Lapolla commented, “Now that the roofing market is showing strong signs of economic recovery, the Lapolla GE Silicone Program is expected to make a significant impact on our potential project opportunities and roofing market sales. Lapolla manufactures acrylic elastomeric roof coatings making GE silicone products an important and complementary line. Lapolla will be aggressively marketing and promoting GE silicone starting this month, utilizing print advertisement, trade shows, project specifications and architectural channels. We are very pleased to be associated with this world-class brand and expect to see significant program progress in 2011 and beyond.”
Rod Hawkins, General Manager, Sealants Division, Momentive said, “We are pleased to add Lapolla Industries to our roofcoat distribution channel. We intend to grow this segment of our business with a very limited and select group of distributors, and have a rigorous process in place to choose our partners.”
About Lapolla Industries, Inc.
Lapolla Industries, Inc. is a manufacturer of spray foam insulation and cool roof coating products targeting commercial, industrial and residential applications in the roofing and insulation construction industries. Additional information about Lapolla is available at www.Lapolla.com.
About Momentive Performance Materials, Inc.
GE pioneered silicone sealants in the 1940's and led innovative evolution of those products for decades. That same commitment to innovation, quality and service is unwavering. But today, with a clear focus on product mastery and unparalleled technical support, the company is called Momentive Performance Materials (Momentive). In 2006, the GE Advanced Materials business was sold to form Momentive, which is the exclusive global licensee of GE-branded sealants. Momentive Performance Materials Inc. is an indirect wholly owned subsidiary of Momentive Performance Materials Holdings LLC. Momentive offers a robust line of GE-branded sealants, adhesives and coatings around the world for use in a wide variety of weathersealing, structural glazing, insulating glass, glazing, and specialty applications. More information on the GE sealants is available at http://www.ge.com/silicones.
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, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, 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. Such statements rely on a number of assumptions concerning future events, many of which are outside of the Company's control, and involve risks and uncertainties that could cause actual results to differ materially from opinions and expectations. Any such forward-looking statements should be considered in context with the various disclosures made by the Company about its businesses. All information in this release is as of the date hereof. 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 the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Lapolla's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of Lapolla's press releases and additional information about Lapolla is available on the World Wide Web at www.lapollaindustries.com.
Douglas J. Kramer, CEO
Michael T. Adams, CGO
Charles A. Zajaczkowski, CFO