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Retailing

BRIEFLY

May 10, 1994|From Times Staff and Wire Reports

Insilco to Sell Sinclair Paint: The agreement to sell for $51 million to Grow Group Inc. excludes some real estate assets. Insilco Corp., which emerged from Chapter 11 bankruptcy protection in April, 1993, also said it has abandoned plans to sell two other units, Rolodex and Curtis Manufacturing Co. Proceeds from the Sinclair Paint Co. sale, which is expected to close by Aug. 1, will go toward reducing Insilco's debt. New York-based Grow Group is a producer of specialty chemical coatings and paints. Sinclair, whose principle market area is Southern California, operates about 50 stores, 13 of them company-owned. It had 1993 sales of about $95 million, or 16% of Insilco's consolidated sales of $165 million for the year.

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