SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 28, 1998
COMPASS PLASTICS & TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-23027 95-4611994
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification
No.)
15730 South Figueroa Street, Gardena, California 90248
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (213) 770-
8771
CURRENT REPORT ON FORM 8-K
COMPASS PLASTICS & TECHNOLOGIES, INC.
January 28, 1998
ITEM 5. OTHER EVENTS
The information contained in the Press Release issued by
Compass Plastics & Technologies, Inc., dated January 29, 1998, a
copy of which is attached hereto as Exhibit 99.1, is incorporated
herein by reference.
Item 7. Financial StATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(a) FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.
Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION.
Not applicable.
(c) EXHIBITS.
99.1 Press Release issued by Compass Plastics &
Technologies, Inc. on January 29, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
COMPASS PLASTICS & TECHNOLOGIES,
INC.
Dated: January 29, 1998 By:/s/ Michael A. Gibbs
Michael A. Gibbs
President
EXHIBIT INDEX
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Exhibit Number Description
99.1 Press Release issued by Compass Plastics &
Technologies, Inc. on December 29, 1998.
EXHIBIT 99.1
Compass Plastics & Technologies Announces the Signing of a
Contract to Purchase MOS Plastics, Inc.
Gardena, California (January 29, 1998) Compass Plastics &
Technologies, Inc. (NASDAQ/ NMS:CPTI), today announced an agreement
whereby Compass will purchase all of the outstanding stock of San
Jose, California based MOS Plastics, Inc. Upon closing, Mr. Werner
Schulz, President of MOS, will join the Board of Directors of
Compass and continue to serve as President of MOS. Closing of the
transaction, expected by the end of February, is subject to a
number of conditions, including completion of committed financing.
Founded in 1974, MOS Plastics, Inc. is an injection molding company
that specializes in producing turn-key plastics parts and
subassemblies. MOS has 150 employees and occupies a 60,000 square
foot manufacturing plant and 26,500 square foot warehouse. The
company has 38 molding machines and state of the art mold making
capabilities. The company's clients include Hewlett Packard,
Apple Computer, Inc., Silicon Graphics, Inc., Lifescan,
Inc. (a subsidiary of Johnson & Johnson, Inc.), Nellcor, Inc. and
Rockshox, Inc., among others. The company achieved 1997 sales in
excess of $18 million.
Compass President & CEO Michael A. Gibbs said of the synergy
created by the acquisition, "Combining MOS' engineering and tooling
expertise in manufacturing small complex parts for their Silicon
Valley clients with AB Plastics' strengths in large part molding
and decorating and assembly for its Southern California and Baja,
Mexico clients creates significant growth potential for both
companies. MOS' engineering and tooling groups will participate in
developing proprietary molds for AB/Gridshield customers. Our
intention is to retain all the key employees of MOS. On a day to
day basis, MOS' current customers will continue to work with Werner
and his key executives."
Compass Plastics & Technologies, Inc. , through its wholly owned
subsidiary, AB Plastics Corp., is a leading contract manufacturer
and assembler of custom injection molded plastic components in
the western United States and Baja, Mexico. The company
manufactures the plastic exteriors of computer monitors,
televisions, electronic keyboards, and other consumer products. In
addition to injection molded components, the company offers a broad
range of "value added" services including painting, decorating and
assembly.
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