Compass Plastics & Technologies Inc. Chairman Increases Equity Stake in Company.GARDENA Gardena (gärdē`nə), city (1990 pop. 49,847), Los Angeles co., SW Calif., an industrial suburb of Los Angeles; inc. 1930. Often called "Freeway City" because of its proximity to several major roads, Gardena manufactures aircraft , Calif.--(BUSINESS WIRE)--June 24, 1998--Compass Plastics & Technologies 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 :CPTI CPTI Conscience and Peace Tax International CPTI Counselling and Psychotherapy Training Institute (Edinburgh, Scotland, UK) CPTI Center for Patent and Trademark Information CPTI Concrete Polishing Technical Institute ) announced today that Private Equity Partners, L.P., of which Compass' chairman, Geoffrey Geoffrey (jĕf`rē), 1158–86, duke of Brittany (1171–86); fourth son of Henry II of England. Betrothed (1166) to Constance, heiress of Brittany, he was recognized as heir to the duchy in 1169 and succeeded to it on the death of her Gorman, is managing partner, increased its stake in the company by purchasing 200,000 shares of the company's common stock from the open market on Friday, June 19, 1998. The purchase made through the investment partnership brings Gorman's combined direct and beneficial ownership in the company to 679,914 shares, or 13.9% of the 4.88 million shares outstanding. "The basis of my purchase is the high degree of confidence that I have in Compass Plastic's future. Several industry-wide events have adversely impacted our profit plan for the year. While I expect their effect to be temporary, they have overshadowed the new customer accounts and technology gains we have made recently. I believe these shares represent an attractive investment," said Gorman. Compass Plastics & Technologies is a leading contract producer ofcustom injection-molded enclosures and sub-assemblies for OEMs in the computer monitor, PC, printer, consumer electronics and medical device industries. The company has manufacturing and assembly facilities in Silicon Valley, 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, , and Baja California Baja California, state, Mexico Baja California (Span.: bä`hä kälēfōr`nyä), state (1990 pop. 1,660,855), 27,628 sq mi (71,576 sq km), NW Mexico, on the Baja California peninsula. Mexicali is the capital. , Mexico. Customers include Sony, Hewlett-Packard, Matsushita, Casio, Samsung, Hitachi, Sanyo, Apple Computer, Silicon Graphics and Lifescan.
CONTACT: Compass Plastics & Technologies Inc.
Paul J. Iacono, 213/770-8771
or
Coffin Communications Group
Sanjay Sabnani, 818/789-0100
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