CPAC, INC. REORGANIZES GLOBAL IMAGING GROUP FOR GROWTH;
NAMES STEVEN E. BAUNE PRESIDENT
LEICESTER, NY... June 6, 2002 - CPAC, Inc. (Nasdaq: CPAK) today announced the appointment of Mr. Steven E. Baune as President of its Global Imaging Group segment, effective May 28, 2002. In this position, Mr. Baune assumes responsibility for leading the growth of CPAC's eight worldwide Imaging business units located in five countries. CPAC Global Imaging Group is primarily involved in the development, manufacture, packaging, distribution, and marketing of chemicals for color photography, health care, and graphic arts, as well as associated imaging equipment and refining services.
According to Thomas N. Hendrickson, CPAC's President and Chief Executive Officer, "Our strategic plan has been to expand our international Imaging business, which currently contributes nearly one third of total Imaging revenue. With our recent minority equity investment in TURA AG, a German manufacturer of photographic film and paper, we now offer the industry's most complete product package, including paper, film, chemistry, silver recovery and refining, and large format imaging solutions. This reorganization creates a more integrated approach to the global marketplace, and refocuses each business unit on contributing to the larger goals of the segment."
Mr. Baune has held senior executive positions with two premiere global consumer products companies: Eastman Kodak Company and Coats plc, maker of Coats & Clark thread. After a 26-year career with Kodak, he joined Coats North America in 1998 as its CEO. On behalf of this $500 million division of Coats plc, he led two acquisitions and built two low-cost manufacturing plants abroad to enhance Coat's position in the marketplace.
With Kodak, Baune most recently served as General Manager and Vice President, U.S. Sales, for consumer products (film; digital cameras), developing high-performance business units that consistently increased both sales and market share. He also led marketing, manufacturing, and strategic planning organizations, driving sales growth and achieving significant manufacturing cost reductions. Mr. Baune holds an MBA in Marketing/Finance from the Rochester Institute of Technology and a Bachelor of Science in Industrial Engineering from North Dakota State University.
Mr. Hendrickson remarked, "Mr. Baune's broad sales and marketing experience in the color photographic and digital imaging markets is a great asset to CPAC as we integrate paper and film into our product line. We fully expect that, under his leadership, the Global Imaging Group will soon take its place among the top imaging companies in the world."
As part of the reorganization, the Company also promoted Brad A. Hendrickson to President, CPAC Imaging Group/Americas. Mr. Hendrickson assumes total financial and operational responsibility for CPAC's Imaging business in North, South, and Latin America, including operational oversight for Allied Diagnostic Imaging Resources, Inc., Norcross, GA; Trebla Chemical Company and PRS, Inc., both of St. Louis, MO; and CPAC Equipment Division, Leicester, NY.
Hendrickson has served as President of Allied Diagnostic Imaging Resources, Inc., CPAC's health care chemical manufacturing subsidiary, since 1998 and was given the added role of President of the CPAC Equipment Division in 2000. Mr. Hendrickson joined CPAC, Inc. in 1986, received his MBA from Emory University in Atlanta, GA in 1998, and holds a Bachelor of Science degree in Economics from the University of Wisconsin at Madison.
Thomas C. LeBlanc, formerly the Executive Vice President / General Manager at Allied Diagnostic Imaging Resources, Inc., has been promoted to serve as its President. In this new role, Mr. LeBlanc assumes total profit and loss responsibility for both Allied and the CPAC Equipment Division, which was integrated into Allied's organizational structure in August 2000. Mr. LeBlanc joined Allied in 1998 after more than twenty-five years as a senior manager for LaRoche Industries, Inc. and the Engelhard Corporation. He holds an MBA from Emory University, Atlanta, GA and a Bachelor of Science in Chemical Engineering from the University of Southwestern Louisiana.
About CPAC, Inc.
Established in 1969, CPAC, Inc. (cpac.com) manages holdings in two industries. CPAC Global Imaging develops and markets innovative imaging chemicals, equipment, and supplies at eight business units worldwide. The Fuller Brands segment manufactures commercial, industrial, and household cleaning products, as well as custom brushes and personal care lines for The Fuller Brush Company, Stanley Home Products, and Cleaning Technologies Group. Stock is traded under the symbol: CPAK.
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.
###
|
