Cerplex Announces Completion of InCirT Sale.TUSTIN, Calif.--(BUSINESS WIRE)--May 1, 1996--The Cerplex Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPLX), specializing in service outsourcing for the high technology industry, Wednesday announced that it has completed the sale of its Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, contract manufacturing division, InCirT Technology, to Pen Interconnect, Inc. (NASDAQ:PENC PENC Professional Engineers of North Carolina and PENCW) for $5.6 million, payable in $3.5 million cash and $2.1 million in Pen Interconnect stock. InCirT will continue to operate in its current location at Cerplex's Tustin, Calif. facility under leasing arrangements agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy by both parties as a constituent of the purchase. During the calendar year of 1995, InCirT generated revenues of approximately $13 million. About Pen Interconnect A ten-year-old company with headquarters in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. , Pen Interconnect Inc. is a leading developer and manufacturer of internal and external custom cable interconnections for original equipment manufacturers in the computer, computer peripheral, telecommunications, instrumentation and testing equipment industries. About Cerplex Cerplex is a global leader in service outsourcing for the high technology industry. As the largest independent repair and logistics organization in the world, Cerplex provides service programs tailor-made to customer needs. Cerplex offers product services for electronic equipment in the industries of computer and peripherals, telecommunications and office automation. The company provides product depot repair and remarketing services, service parts services and logistics, and knowledge based support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . CONTACT: Cerplex Group Inc., Tustin, Calif. Bruce D. Nye, 714/258-5603 bnye@cerplex.com |
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