Sapona Plastics in Asheboro

FOR IMMEDIATE RELEASE

Contact Information:
Dean Lail
Sapona Plastics, LLC
133 Oak View Lane, Asheboro, NC 27205
PO Box 2464, Asheboro, NC 27204
Ph: 336-873-8700
Fax: 336-873-7582

Headline: Sapona Plastics in Asheboro
Asheboro, NC, 5/20/04
Sapona Manufacturing and Jack C. Lail, former owner and founder of Mid-State Plastics, have formed a new injection molding and assembly business near Seagrove, NC. Sapona Plastics, LLC is acquiring the assets of Asheboro Precision Plastics (dba Wade Technical Molding) which closed under chapter 7 bankruptcy last month.

"The new venture is a perfect opportunity for Sapona Manufacturing to grow in response to a declining domestic textile industry" according to Dean Lail, company President.

Sapona Plastics has over 40 employees and will continue to serve existing customers with product including lip balm containers, insulated drink cups, house wares, roofing nails, automotive components and other custom molded components and assemblies. Quality system registration to ISO9000 is in process.

Dean Lail of Sapona Manufacturing, a synthetic stretch yarn manufacturer located in nearby Cedar Falls, will be president of the joint venture. He has over 15 years experience in plastics. Dean will focus his efforts on the new venture and will relinquish the role of President of Sapona Manufacturing to Steele Redding, CEO of Sapona Manufacturing.

Richard Mack, also formerly with Mid-State, joins the Sapona Plastics as VP of Sales and Marketing. Sandra Lail will continue with the new company as VP of Customer Service and Quality.

Company CEO, Jack Lail, who owns the operation's building located just north of Seagrove across from Jug Town Café on Business 220 is committed to maintaining the operation and jobs in the local community. A federal economic development grant of nearly $500,000 for sewer in Seagrove hinges on the operation creating at least 50 jobs.