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Press Release

Interplex Engineered Products Acquires Modern Grinding Technology

East Providence, RI – October 1st 2008. Interplex Engineered Products (IEP), a turnkey, vertically integrated world-class supplier of application specific thermoplastic Electronic Packages and a division of Interplex Industries, Inc., announced today that it has acquired the assets of Modern Grinding Technology (MGT), a US manufacturer of custom tooling and components supporting the metal forming industry.

The new business unit will merge with Interplex Metal Logic in Attleboro, MA to form a dedicated Technology Center. This new Tech Center will focus on product development, NPI, tooling and automation solutions for component manufacturing and will become a satellite operation of Interplex Engineered Products.

“It is a pleasure to welcome the MGT team to Interplex,” said Bob Hudson, IEP’s President. “The Tech Center is located just minutes away from IEP’s world class manufacturing center in East Providence, Rhode Island.” Mr. Hudson added, “We plan to substantially increase the Tech Center’s capacity to meet the rapidly growing demand for these types of tooling and automation solutions for Interplex’s worldwide strategic business partners.”

“We are very excited to join the Interplex family,” said Greg Costa, former President of MGT and now acting Operations Manager of the IEP Tech Center. “I believe the synergy of our technologies coupled with our mutual vision and appetite to invest in North America operations will enable us to provide highly technical solutions to manufacture the products of tomorrow.” Mr. Costa continued, “By joining Interplex’s global network of companies, we will help leverage our advancements in manufacturing technology throughout the company’s global operations.

Founded in 1958 by President and CEO Jack Seidler, Interplex Industries celebrated its 50th Anniversary this year and is headquartered in College Point, NY. The company continues to expand technology and capabilities in areas of product design and application development services, metal etching, prototyping, tool design and build, precision metal stamping, die casting, precision machining, plating and finishing, insert and injection molding, assembly and full scale automation services around the world. Interplex currently provides its services to the communications, electronics, industrial, medical and automotive markets and has facilities in the United States, Mexico, China, India, Malaysia, Korea, Scotland, France, Germany and Hungary.