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SPRAGUE TECHNOLOGIES NAMES CHAIRMAN TO ADDITIONAL POSITION OF CEO

 SPRAGUE TECHNOLOGIES NAMES CHAIRMAN TO ADDITIONAL POSITION OF CEO
 STAMFORD, Conn., April 17 /PRNewswire/ -- Sprague Technologies, Inc. (NYSE: SPG), today announced a management change in which Carl H. Lindner, its chairman of the board, has been elected to the additional position of chief executive officer. Edward F. Kosnik has resigned as chief executive officer, but will remain as president of the company during an interim transition period and is expected to resign that post on June 30, 1992.
 Lindner commented, "Ed Kosnik successfully brought the company through a difficult period. With Sprague's exit from the electronic components business nearly complete, the board of directors determined that future growth and increases in shareholder value will come from the successful investment of the company's cash. The management change positions the company for the next phase of its growth. I am pleased that the board has selected me to lead that effort and look forward to the future."
 Lindner is chairman and principal shareholder of American Financial Corporation, which beneficially owns approximately 39.2 percent of Sprague's common stock.
 -0- 4/17/92
 /CONTACT: R. Kevin Matz, assistant treasurer of Sprague, 203-964-8628/
 (SPG) CO: Sprague Technologies, Inc. ST: Connecticut IN: CPR SU: PER


GK -- NY016 -- 9707 04/17/92 14:15 EDT
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Publication:PR Newswire
Date:Apr 17, 1992
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