CORE-MARK <CMK.TO> SEES PROBLEM CORRECTION
Core-Mark
International Inc said it was vigorously addressing its
problems and would correct them in the near term.
    The packaged goods distributor said that its statement
followed "a number of apparently confusing statements
concerning the company that may have given rise to uncertainty
as to the company's current operative condition and future."
    Core-Mark previously said that former chief executive D.E.
Gillespie resigned due to family problems and declining health,
and added that negotiations for sale of his majority stake to
two unnamed investor groups were a growing possibility.
    Core-Mark's interim chief executive Anthony Regensburg said
the sudden earnings deterioration in late fourth quarter "took
everyone by surprise and directors along with management are
urgently addressing these problems.
    "Speculation as to the company's future has been less than
helpful and has provoked and heightened anxieties and diverted
management's time and attention to address them," Regensburg
said in a statement.
 Reuter
