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News No. 15, Vol.1, 1999

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Headlines: June 7 - June 13, 1999

Aviation Pioneer Dick Rutan Describes Advantages Of Pear Resins In Wall Street Interview

NVF Company announces a new brochure about it's Forbon line of vulcanized fibre, which is composed of 100% recycled materials

Cyclics Corporation Buys Patents From GE to Thermoplastics That Process Like a Thermoset

The State of Oklahoma Joins the Launch of The RecycleNet Composite Index

U.S. Small Business Administration Names Composite Optics, Inc. 1999 National Small Business Subcontractor of the Year

Owens Corning Announces Intent to Sell Falcon Foam Corp.

Kafus Concludes US$11 Million of Permanent Financing for its Indiana Flexform(TM) Mat and Panel Plan

Automotive Composites Alliance Launches Company Website

ERDA Exhibits at Paris Air Show; Wisconsin Company to Unveil New Technology

TPGI Issues Research Reports on Boating Industry And Initiates Coverage of Revenge Marine with Buy Rating

Park Electrochemical Corp. Declares Cash Dividend

Lynn Scarlett Appointed to the Board of Directors of EarthShell Corp.


Aviation Pioneer Dick Rutan Describes Advantages Of Pear Resins In Wall Street Interview

TORONTO, - Pear Technologies Inc. announced that aviation pioneer Richard G. ``Dick'' Rutan detailed the advantages of PEAR resins in the aviation/aerospace marketplace during a special interview with Wall Street Interview. The entire interview can be heard on the Internet by going to Wall Street Interview's web site:

Rutan recently joined PEAR Industries' Technical Advisory Board to help establish the use of PEAR resins within the worldwide multi-billion dollar aviation industry.

During the interview, Rutan describes how PEAR resins offer the kind of properties and characteristics that he believes will become the standard in the aviation field. ``The PEAR resin system is superior in every physical characteristic of composite materials, especially by solving the limitation of temperature and premature failure due to fiber inter-laminar shear exhibited by traditional epoxy matrix formulations,'' Rutan said, ``and its low toxicity and strength will play an important part in the aircraft industry's mandated FAA requirement to retrofit and build safer aircraft for the traveling public.''

PEAR (PolyEther Amide Resin) resins offer practical and economic solutions when used in aircraft construction. For example, PEAR's 6325 resin is specifically designed for aircraft applications and has been found to exceed FAA safety standards by 2:1. It is resistant to fire, heat and stress, and is easy to form. An estimated 12,000 jets will be retrofitted in the future to meet expected new FAA standards for insulation materials in the cockpit and passenger areas, representing a potential $2.4 billion marketplace. Under expected FAA regulations, new airline construction will also be required to use these materials, representing significant additional market potential.

PEAR Industries offers the newest generation of advanced polymer resins that are superior replacements for traditional, and more costly materials. PEAR holds the exclusive worldwide rights to PolyEther Amide Resin (PEAR), which was originally developed by Ashland Chemical  for use in strategic defense applications. PEAR has taken this technology and created a low-cost, versatile, and superior alternative to traditional fabricating materials.

PEAR 's ZOS Petrochemicals Industries Corp. subsidiary represents Formosa Chemical and Fiber Corporation, of Taipei, Taiwan, one of the largest manufacturers of petrochemicals in the world. ZOS distributes ABS (acrylonitrile-butadiene-styrene) and PVC plastics.

In 1986, Dick Rutan commanded the first, non-stop, unrefueled flight around the world in the Voyager aircraft that he helped design and build. In recognition of this remarkable feat, President Reagan awarded him the Presidential Citizen's Medal of Honor, making him only one of 16 recipients of this award in the history if the United States. The Voyager aircraft, which is made of composite resin, now hangs in the Smithsonian Institution in Washington, DC. He was Commander and Project Director for World Quest, his second attempt to be the first to fly around the world, non-stop, in a helium balloon before others reached that goal in 1999. He was a US Air Force fighter pilot for over two decades, flying over 325 combat missions over Vietnam.



NVF Company announces a new brochure about it's Forbon line of vulcanized fibre, which is composed of 100% recycled materials

The NVF Company, Yorklyn, DE, announces a new brochure highlighting the many uses of it's Forbon line of vulcanized fibre.   Vulcanized Fibre is one of the first polymers ever developed, and has been produced for well over 100 years.  It is available in sheets, rolls, tubes, rods and shapes from .005" up through many inches thick when laminated.  Forbon resists oil, solvents, water, has superior electrical properties, is extremely tough and abrasion resistant, and is composed of 100% recycled materials.  For a copy of the new brochure please call 1-800-388-6831  ext.  277, or contact Bob Zembower for more information.

Cyclics Corporation Buys Patents From GE to Thermoplastics That Process Like a Thermoset

SCHENECTADY, N.Y. -Cyclics Corporation announced an agreement today to purchase almost 50 US and foreign patents that cover cyclic compositions of polycarbonate, polyarylate, and polybutylene terephthalate (PBT) from General Electric Company. These cyclics process reactively, like a thermoset resin, but retain thermoplastic properties in their final state. The low initial viscosity allows these resins to be mixed thoroughly with fiber reinforcements to create thermoplastic composites. Among the many benefits of a thermoplastic composite are the ability to recycle parts, increased damage tolerance, the ability to thermoform and weld to like thermoplastics, and the ease of repair.

``This unique technology marries the processing ability of a thermoset with the material properties of a thermoplastic'' said John Ciovacco, President and CEO of Cyclics Corporation. `` The combined processing characteristics of reaction speed and low viscosity are superior to existing thermoset technologies.'' The reaction to polymerize cyclic forms of PBT is quick, from a few seconds to a few minutes depending upon the catalyst, without producing an exotherm. Overall processing speed is even faster because parts can be taken out of the mold without cooling the mold first. In addition, choosing different initiators can yield a variety of properties in the resulting thermoplastic polymer including green strength, molecular weight, modulus, melt viscosity, impact and solvent resistance.

``The demonstrated properties of cyclic thermoplastics will provide dramatic improvements in a wide range of applications including construction and infrastructure, transportation, sports equipment, aerospace and the list keeps growing,'' added Ciovacco. Everything from bicycle frames to bridges could benefit from the damage tolerance of a thermoplastic matrix. Off-shore oil rigs and shipping containers could be effectively repaired when damaged and ultimately recycled. Hockey stick blades could be thermoformed to individual preferences. Automotive parts could also be created which are lightweight, strong, and recyclable.

With water-like viscosity, these cyclic materials can wet-out continuous fibers while achieving high fiber volumes. Intermediate products, such as pre-impregnated yarns or fabrics, sheet molding material, flat blanks, and long fiber compounds, can be made far more cost effectively.

Cyclics Corporation is setting up laboratory facilities in the Albany, NY. The newly formed company is assembling the management team and pursuing investment from a variety of sources. The first round of financing is expected to be closed in a few months. Experimental quantities of cyclic thermoplastic resin should be available soon thereafter.

Cyclics Corporation is a start-up business formed to commercialize an innovative plastic technology, known as cyclic thermoplastics, based on technology developed and patented by GE. Cyclic thermoplastics offer the processing advantages of a thermoset but retain the material properties of a thermoplastic making thermoplastic structural composites a reality.


The State of Oklahoma Joins the Launch of The RecycleNet Composite Index

TORONTO, - Mikael Prydz, CEO of RecycleNet Corporation (Guelph, Ontario) is pleased to announce the launch of The Post-Consumer Recyclables Index.

RecycleNet welcomes the state of Oklahoma, Wayne Cotton, Administrator, State Wide Recycling Program, as the first subscriber to be activated in the The Post-Consumer Recyclables Index.

The Post-Consumer Recyclables Index functions as a industry wide ``yardstick'', reflecting the market trends for post-consumer (household) recyclable materials (such as bottles, cans & newsprint) and is part of The RecycleNet Composite Index.

The RecycleNet Composite Index measures/monitors the average market prices of 11 distinct sectors of recyclable commodities which include:

Post-Consumer Recyclables Index
Computer & Electronics Recycling Index
RecycleNet Automotive Recycling Index
RecycleNet Scrap Metals Index
RecycleNet Waste Paper Index
RecycleNet Textile Fibers Index
RecycleNet Plastic Recycling Index
RecycleNet Wood Recycling Index
RecycleNet Tire & Rubber Index
C.R.U.M.B. Rubber Composite Index
Andela Scrap Glass Composite Index

The successful implementation of each of the 11 sectors of The RecycleNet Composite Index has the potential to significantly increase RecycleNet's revenues, and will further reinforce the predominant position RecycleNet holds as a business to business trading resource.

RecycleNet Corporation provides ``Global Access to Recycling Markets'' (GARM) through Recycler's World, a dynamic Internet portal that facilitates e-commerce trading.

    RecycleNet Corporation trades OTC BB:    GARM
    Recycler's World:              


For further information contact: Mikael Prydz - CEO, RecycleNet Corporation, Tel. (519) 767-2913, Email mprydz(at)



U.S. Small Business Administration Names Composite Optics, Inc. 1999 National Small Business Subcontractor of the Year

SAN DIEGO-- The U.S. Small Business Administration (SBA) has named Composite Optics, Incorporated (COI) of San Diego, California, as the 1999 National Small Business Subcontractor of the Year. Five hundred sixty (560) small businesses across the country were nominated for the award. COI was a finalist for the national honor after winning the SBA's Subcontractor Award for Region IX. COI also earned the ``Administrator's Award for Excellence.''

``We are very proud of this award. Everyone here is excited to be a part of this dynamic company and glad to be recognized at a national level by this organization,'' said James Gormican, President and CEO of Composite Optics. ``We are also proud to have been nominated by one of our biggest customers, Lockheed Martin Missiles & Space.''

COI has a long term agreement with Lockheed Martin as a strategic supplier and was nominated by LMMS for its outstanding performance on the A2100 Reflector programs. Through a strong team effort, both organizations were able to reduce cost, shorten schedule and improve technical performance, making the LMMS/COI team more competitive.

Mr. Gormican will receive the award on behalf of COI during the 32nd Annual Joint Industry/SBA Procurement Conference, Business Opportunity Expo & Awards Presentations in Washington, D.C., on June 8-10.

COI is a world leader in the design, engineering, manufacturing and testing of advanced composite products for the space and aerospace markets. Based in San Diego, California, COI is an employee-owned business with over 450 Associates. The company's three main business areas are Structures & Systems, Antennas & Payloads, and Precision Structures & Optics. COI has a division, Signature Technologies & Test, located in Rancho Bernardo, California. Composite Optics also has two subsidiaries including R-Cubed Composites, Inc., in West Jordan, Utah, and Engineered Ceramics, Inc. Recently featured on the PBS production ``Voyage to the Milkyway,'' Composite Optics, Inc. has provided innovative products and services that utilize state-of-the-art composite materials since 1976.

Owens Corning Announces Intent to Sell Falcon Foam Corp.

TOLEDO, Ohio,-- Owens Corning announced that it is exploring the possible sale of its Falcon Foam business, a producer of expanded polystyrene (EPS) foam products.

With annual sales approaching $65 million and manufacturing facilities in Michigan and California, Falcon is a major producer, fabricator and distributor of EPS in the U.S. Its products are primarily used in construction and OEM applications, such as roofing and wall insulation, garage doors and recreational vehicle exteriors. Falcon also makes EPS for commercial packaging.

According to Glen H. Hiner, Owens Corning chairman and chief executive officer, the intent to sell its Falcon operations resulted from an extensive review of the EPS industry and ongoing discussions about the company's core objectives and strategies.

``After reviewing the state of the EPS industry, we believe it is on the verge of consolidation,'' said Hiner. ``We also believe that Falcon, as a leader in EPS, needs to play a role in that consolidation to maintain its strong market position.''

``EPS technology is not close enough to our core building materials products and systems, however, for Owens Corning to pursue a larger presence in the EPS industry. Divestiture will allow Owens Corning to continue focusing on our core strategies, and it will give Falcon the opportunity to continue growing in a consolidating industry,'' said Hiner.

``This divestiture is also consistent with the debt reduction goals established as part of the National Settlement Program,'' said Hiner.

The divestiture of Falcon has no bearing on Owens Corning's extruded polystyrene (XPS) foam operations due to their strong link with the company's core building materials systems.

Falcon Foam Corp. has approximately 380 employees in two manufacturing facilities in Byron Center, Mich., and Los Angeles. Owens Corning acquired the Michigan operation in August 1995, and the California operation in March 1997.


Kafus Concludes US$11 Million of Permanent Financing for its Indiana Flexform(TM) Mat and Panel Plan

BOSTON, MASSACHUSETTS--North America's Largest and Most Advanced Natural Fibre Composites Production Facility Due for Start-Up September 1999

Kafus Bio-Composites Inc., a subsidiary of Kafus Environmental Industries (Kafus), recently closed US$11 million of equity and debt in permanent financing to replace interim construction funding for the ``state of the art'' Flexform(TM) manufacturing facility currently under construction in Elkhart, Indiana.

Kafus natural fiber composites are designed as an alternative to traditional composite materials such as fiberglass. Marketed as Flexform(TM) mats and panels, Kafus' bio-composites can be recovered, reused and recycled. Additionally, they offer higher strength with lower weight and they are less likely to shatter upon impact or warp under extreme temperature changes. Most importantly, the use of natural fiber composite panels will dramatically reduce the molding time of 3-D parts; lower the emissions of toxic V.O.C.'s and reduce weight while improving the performance of end products.

The 55,000 sq.ft. Elkhart building is now fully erected and will be weather tight by June 15th. The facility will begin equipment installation in late June and is scheduled to begin testing and start-up activity in September. Commercial operation is planned to begin by September 30th, 1999. All construction and development activities are currently on or ahead of schedule.

Kafus' Indiana Bio-Composite plant is designed to produce over 100 million sq.ft. of natural fibre based Flexform(TM) mats and panels for the automotive, building and furniture industries. The plant is designed to meet multiple product specifications and designs using highly automated equipment. Initially the Elkhart facility will operate on a single line producing 50 million sq.ft. of Flexform(TM) fibre composite mats designed specifically for automotive use. Kafus' planned introduction of a second line will increase production to its full design capability of 100 million sq.ft.

Currently Kafus Bio-Composites Inc. has purchase commitments for the majority of its initial production run from three Tier 1 auto suppliers who in turn will use Flexform(TM) mats to manufacture finished interior automotive trim components for the big three US automotive OEM manufacturers. The purchase commitments to date call for Kafus Bio-Composites Inc. to supply Flexform(TM) mats for ultimate use in over two million automobiles and trucks over the next three model years. Under the commitments, the supply program for these vehicles will continue for at least five years.

Current applications for Kafus' natural fibre components include rear deck trays, full door panels, bolsters, trunk liners, door trim, head liners and related components. Kafus Bio-Composites Inc. is continuing to develop new bio-composite based component applications for Visteon Automotive Systems, an enterprise of Ford Motor Company, under an existing joint development agreement and for other customers in the trucking and recreational vehicle industries.

``With the successful conclusion of development of our first natural composites plant at Elkhart, we have now established an ideal migrateable model for Kafus' planned development of multiple facilities in North America, Europe and other strategic global locations,'' stated Mr. David Agneta President of Kafus Bio-Composites Inc. ``With our proven ability to replace glass reinforced composites with less costly, lighter and safer natural fibre components, that are easily recyclable and more eco-friendly, coupled with our position as the leading US grower and processor of Kenaf, we are in an ideal position to take a global lead in the development and application of this remarkable new material technology,'' concluded Mr. Agneta.

Kafus is changing the global landscape through the use of alternative sustainable resources in the production of commodities.

The foregoing contains forward-looking statements, which are subject to contingencies and uncertainties. Such forward looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could prove to be inaccurate including without limitation, the assumption that Kafus will be able to raise the necessary financing to develop its projects and that there is market acceptance for its products. Actual events, transactions, and results may differ materially from anticipated events, transactions or results described in such statements. Material uncertainties about the future of the company exist. Kafus is subject to a number of risks and uncertainties, which are set forth in its filings, with the Securities Exchange Commission.


Automotive Composites Alliance Launches Company Website

TROY, Mich., -- The Automotive Composites Alliance (ACA) today premiered its website.

The web site, caters to its ACA members by providing breaking information about the composites industry and to its potential members by offering background information on the ACA, press releases and even a page to request ACA literature. One can download literature from the site or send a request form along with comments or questions.

``We chose to make the web site as broad as possible by presenting comprehensive features on the site to please ACA members and those who are interested in the ACA,'' says Don Kossak, ACA chairman and vice-president of development at Cambridge Industries. ``The web site allows us to expand our communication.''

The Automotive Composites Alliance is an industry association comprised of 27 molders, raw materials suppliers and toolmakers that provide automakers with reinforced thermoset composites. The ACA is a business unit of the Composite Fabricators Association, headquartered in Arlington, VA. The ACA's web site is


ERDA Exhibits at Paris Air Show; Wisconsin Company to Unveil New Technology

LE BOURGET, France-- A Wisconsin aerospace manufacturer will be among the dozens of U.S. companies exhibiting at the Paris Air Show here, June 13-20. Peshtigo-based ERDA will be situated in the U.S. International Pavilion between aircraft giants Boeing, Raytheon, and Textron (Booth A11, U.S. International Pavilion, Hall 3). ERDA, a supplier of executive aircraft interiors, will unveil new aircraft seating technology at Paris, the world's largest aerospace exhibition.

ERDA has long enjoyed a reputation for innovation in the aircraft seating market. ERDA seats are built from strong, light-weight composite materials and aluminum and contain a variety of ergonomic design features. This philosophy has served the company well, especially as business jets are called upon to fly longer, often international, missions in today's global economy. Lighter seats reduce an aircraft's overall weight, thereby increasing its range and payload.

Reflecting this expertise, 40 percent of all ERDA seats are destined for the export market. This includes executive aircraft for prominent heads of state. Domestically, ERDA has obtained exclusive contracts to supply seats for Raytheon's new generation of executive jets, the Premier and the Hawker Horizon; Galaxy Aerospace's super medium-sized jet, and Fairchild's 328JET. ERDA seats for the Boeing Business Jet (a variant of the 737) recently passed FAA certification tests. ERDA also provides specialty seating to airlines and air forces worldwide. These and other orders have fueled the company's 40% annual growth rate.

Founded in 1979, ERDA employs 250 at Peshtigo and 40 at its California subsidiary. In addition to aircraft seating and interiors, ERDA also supplies components for the automotive, jet engine, and medical imaging industries.


TPGI Issues Research Reports on Boating Industry And Initiates Coverage of Revenge Marine with Buy Rating

MIAMI,  William C. Robinson, president of Revenge Marine, Inc. a Nevada Corporation (Revenge Marine), announced that The Phoenix Group International (TPGI) of San Francisco & New York has issued multiple research reports on the Recreational Products/Boating Industry, including research initiating coverage of Revenge Marine with a ``Buy'' Rating, a reiterated Buy on SonicJet Performance along with FY'99 & FY'00 EPS estimate revisions, and positive comments on Torque Engineering, with a comprehensive report to follow. The following excerpts from TPGI's report are reprinted with the permission of TPGI:

The Recreational Boating Industry

``The U.S. market for pleasure boats has undergone numerous changes over the last decade. In 1986, 1987 and 1988, sales of pleasure boats skyrocketed by 18.7%, 28.5% and 14.9%, respectively. Consumer confidence was high and U.S. exports of pleasure boats were booming. In total, manufacturers' sales of pleasure boats expanded by over 75% in those three years. The last cyclical downturn in the economy (the recession of 1989-1991), hit the industry hard, as a number of factors combined to set the stage for a severe slump in manufacturers' sales. Among the factors that significantly impacted the market for pleasure boats in the U.S. were the collapse of the financing structure of the industry, savings and loan crisis, changing consumer confidence in the economy and fluctuating U.S. pleasure boat exports. In 1991, Congress passed a 10% luxury tax on all pleasure boats costing more than $100,000 which caused severe damages to boat manufacturers. It wasn't until 1992 that positive effects of the recovering U.S. economy began to reach the pleasure boat industry. Consumer confidence in the economy was starting on its upward climb towards a significant height in 1993 and banks began to loosen the credit restraints on boat loans as interest rates continued to decline. The repeal of the luxury tax in September 1993 also contributed significantly to a healthy upswing in the boating industry. Elimination of the luxury tax coupled with the U.S. general economic recovery has led to the boating industry's current dramatic rebound. Specifically, after falling from a high of nearly $6 billion in 1988 to less than $3 billion in 1993, recreational boat sales have seen a steady increase with sales of $4.2 billion in 1996 and slightly more than $4.5 billion in 1997. Another factor to be considered in the boating industry involves the 'baby boomer' population, which is progressing financially and is actively buying high-end recreational products with its immense purchasing power.''

Revenge Marine

``Revenge Marine, Inc. (''Revenge Marine`` or the ''Company``) is a marine industry holding company that has been reorganized to acquire yacht manufacturing and technology companies in order to produce and market a full line of boats and yachts for the sport-fishing, megayacht and military markets. The Company is consolidating boat manufacturers, developing boat repair and servicing facilities and integrating these operations with boat retail dealerships. Revenge Marine's goal is to build a uniquely diversified marine corporation that excels at developing advanced technology products and services at superior value.''

About TPGI:

Headquartered in San Francisco, TPGI conducts business around the United States and Internationally in a myriad of financial enterprises. At the core of TPGI's activities are its three divisions: TPGI Corporate Finance, TPGI Equity Research & TPGI Entertainment Finance.

The TPGI Research Team conducts fundamental & technical research and analysis on select companies and securities on all major exchanges. TPGI Equity Research is available on a fee-basis, by subscription, to individual and institutional investors, broker/dealers, individual brokers and investment advisors. In addition to equity coverage, TPGI publishes ``The Phoenix Report,'' a weekly technical analysis of major markets, economic indicators and market commentary and ``The Phoenix Trader,'' a daily bulletin geared toward day traders focusing on ``basket trading'' and special opportunities. For more information on TPGI, visit .

Revenge Marine, Inc. innovates product development, marketing, and customer service in the marine market via the internet and other advanced mechanisms. Revenge Marine, a marine industry holding company, is currently consolidating boat manufacturers, developing boat repair and service facilities, and integrating these operations with boat retail dealerships. The company's goal is to build a uniquely diversified and robust marine corporation which excels at developing advanced technology products and services at superior value due to cost-effective, streamlined operations. Revenge Marine's boat product brands include Blackfin, Egret, and Consolidated Marine.



Park Electrochemical Corp. Declares Cash Dividend

LAKE SUCCESS, N.Y., - The Board of Directors of Park Electrochemical Corp. declared a regular quarterly dividend of 8 cents per share payable August 3, 1999 to stockholders of record at the close of business on July 6, 1999.

Park Electrochemical Corp. is a leading designer and producer of advanced electronic materials used to fabricate complex multilayer printed circuit boards and interconnection systems. Park's electronic materials business is operated by its ``Nelco'' group of companies. Park also manufactures specialty adhesive tapes and advanced composite materials for the electronics, aerospace and industrial markets.


Lynn Scarlett Appointed to the Board of Directors of EarthShell Corp.

BALTIMORE,--EarthShell Corp. announced that it has appointed Lynn Scarlett, an international expert on environmental issues, to its board of directors.

Scarlett currently serves as executive director of the Reason Public Policy Institute (RPPI), a Los Angeles-based public policy research organization, where she focuses on industrial ecology, solid waste and incentive-based policy tools. She has held that position since 1996, having previously served as vice president of research at RPPI from 1990 to 1996.

``We expect that Lynn's experience will prove valuable to the EarthShell board and our business in general,'' said Essam Khashoggi, chairman of EarthShell. ``Lynn's work as an industrial ecologist, which spans state and federal government and industrial and consumer sectors, will be a welcome addition to our existing environmental knowledge base.''

In 1994, Scarlett was appointed by former California Governor Pete Wilson as chair of the Inspection and Maintenance Review Committee. In addition, Scarlett has a particular expertise in the area of solid waste management, having served as a panelist on the Environmental Protection Agency's ``Pay-as-You-Throw'' project in 1995 and as technical advisor to the Solid Waste Association of North America's Integrated Waste Management Project from 1995-1996. Scarlett holds B.A. and M.A. degrees in political science from the University of California, Santa Barbara and also authored numerous articles on environmental issues, which have appeared in outlets such as The Wall Street Journal, Los Angeles Times and Reader's Digest.


Cade Industries Ranked as One of Best Managed Small Companies in Performance Measurements by Aviation Week

Company Also Scores High in Study's 'Improvement Index'

OKEMOS, Mich., - Cade Industries, Inc. a leading supplier of products and services to the aerospace and air transport industries, announced today that it has been ranked in the annual ``Best in the Business'' issue of Aviation Week & Space Technology as one of the ``best managed small companies,'' based on performance measurements that include asset utilization, productivity and financial stability.

The Best Managed Company Awards rank publicly traded companies that derive at least 30 percent of their revenues from aerospace/defense related sales. Rankings are based on the sum of scores computed for 25 ratios that support the three weighted ``aerospace'' performance measures. Cade's total score of 58.2 for 1998 placed the company at number 36 in the performance rankings.

Cade was also ranked among the leaders in the study's ``Improvement Index,'' which is based on improvement in the performance measures from 1994 to 1998. The company improved its overall performance 21 percent in that period, including a 147 percent improvement in asset utilization and 11 percent improvement in financial stability. These gains helped place Cade as 11th highest overall in the improvement index.

Richard Lund, president of Cade Industries, said, ``Cade is honored to be represented on this prestigious list, as one of our industry's top performers. Our goal for 1999 is a 25 percent gain in earnings on a 10 to 15 percent increase in revenues for the year.''

Cade designs, develops, manufactures, overhauls and repairs high technology composite components for the aerospace and air transport industries, and is a global leader in the design and manufacture of jet engine test facilities and related ground testing equipment. The company's operating subsidiaries are located in Lansing, Michigan; San Diego, California; Grand Prairie, Texas; and Minneapolis, Minnesota.



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