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Leicester, NY. . .April 5, 2000. . .CPAC, Inc. (Nasdaq:
CPAK) today announced the appointment of Jerold L. Zimmerman, Ph.D., to its
Board of Directors, increasing the size of the Board to seven members.
Dr. Zimmerman is the Ronald L. Bittner Professor
of Business Administration at the William E. Simon Graduate School of Business
Administration at the University of Rochester, where he has taught finance,
accounting, and economics since 1974. He has published numerous books and papers
during his career, and was a founding editor of the Journal of Accounting and
Economics. Dr. Zimmerman’s most current research is in the areas of Economic
Value Added compensation programs and in organizational architecture. He has
been recognized by national and local organizations for his achievements in
education and research.
Dr. Zimmerman has a Ph.D. in Business
Administration from the University of California (Berkeley) and a B.S. in
Finance from the University of Colorado. He has served as a visiting professor
at Hong Kong University and the Chinese University of Hong Kong. Dr. Zimmerman
has also consulted for various companies (including Kodak, DuPont and CPAC) and
serves as an expert witness in court cases. He is a member of the American
Accounting Association where he has held various committee positions, and served
as a Distinguished Faculty Member in the American Accounting Association
Doctoral Consortium. He resides in Pittsford, NY.
According to Thomas N. Hendrickson, CPAC
President and CEO, "We are very pleased that Jerry has joined our Board of
Directors. He understands the financial and market challenges facing companies
like ours. As a new outside Board member, Jerry will be a valuable contributor
particularly in the areas of corporate finance, incentive compensation, and
acquisitions."
Dr. Zimmerman commented, "I have followed
CPAC over the past few years and am looking forward to involvement at the Board
level. The company has demonstrated its ability to be successful in new markets,
and I welcome the challenge and opportunity of offering guidance to CPAC as it
executes its growth strategy."
CPAC, Inc. is a leading international
manufacturer and marketer of industrial and household cleaning products and
related accessories, personal care products, and prepackaged chemical
formulations, supplies, and equipment systems to the imaging industry. The
company operates in two business segments: Cleaning and Personal Care (Fuller
Brands) and Imaging. The Fuller Brands segment includes The Fuller Brush Company
(commercial and consumer), Stanley Home Products, and Cleaning Technologies
Group. CPAC’s Imaging segment serves the global Imaging market and includes
Trebla Chemical Company, Allied Diagnostic Imaging Resources, Inc., CPAC
Equipment Division, and four international chemical manufacturing operations.
CPAC, Inc. shares trade on the Nasdaq National Market System under the ticker
symbol, "CPAK". More information is at the Company’s web site (www.cpac-fuller.com).
Except for the historical matters contained herein, statements in this press
release are forward looking and are made pursuant to the safe harbor provisions
of the Securities Litigation Reform Act of 1995. Investors are cautioned that
forward-looking statements involve risks and uncertainties which may affect CPAC’s
business and prospects, including economic, competitive, governmental,
technological and other factors discussed in CPAC’s filings with the
Securities and Exchange Commission.
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