PAINT COMPANY HAS METEX&lt;MTX> STAKE, MAY BUY MORE

  Metropolitan Consolidated Industries
  Inc, a New York paint company, said it has acquired 278,709
  shares of Metex Corp, or 21.2 pct of the total, and left open
  the possibility that it might acquire more through a merger.
      In a filing with the Securities and Exchange Commission,
  Metropolitan said it bought the Metex stock as an investment.
      It also said it may buy additional shares, or sell some or
  all of its current stake. If it buys more shares, Metropolitan
  said it would consider doing so in the open market, in private
  deals, or through an exchange offer, tender offer or merger.
      Metropolitan said it may acquire an option on or may buy
  some or all of the Metex shares owned by William Hack, a Metex
  director, who, together with this wife, holds 149,750 of the
  company's common shares, or 11.4 pct of the total.
      Metropolitan said it already has an option to buy another
  42,750 Metex common shares at 11.25 dlrs each. The option is
  not exercisable until April 12, 1988, it said.
      If Metropolitan were to exercise the option and acquire all
  of Hack's stake, it would have 471,208 Metex common shares, or
  35.9 pct of the total. Metropolitan's SEC filing was
  made as a shareholder group with Hack.
      Metropolitan, which said it spent 3.1 mln dlrs to acquire
  its Metex stake, listed its recent stock purchases as 54,993
  common shares on March 67 at 10 dlrs each and 83,916 shares on
  March 11 at 11.25 dlrs.
  

