Jade Corporation Acquires NY Based Precision Stamping Company - Johnson & Hoffman Joins Ranks of Leading Machining and Manufacturing Services Company

JADE Corporation announced today that it acquired Johnson & Hoffman LLC., a leading supplier and manufacturer of complex, deep drawn and thin walled stampings serving the automotive air bag, electronic, ordnance, commercial & industrial, aerospace and defense industries.

HUNTINGDON VALLEY, PA February 4, 2005 -- JADE Corporation announced today that it acquired Johnson & Hoffman LLC., a leading supplier and manufacturer of complex, deep drawn and thin walled stampings serving the automotive, electronic, ordnance, commercial & industrial, aerospace and defense industries. Johnson & Hoffman based in Carle Place, New York, provides high quality, difficult to manufacture precision stampings. With extensive IP in technology in the stamping and metallurgy of deep drawn metals and with markets to various industries including the automotive sector; the business is a strategic move to expand Jades existing stamping expertise and further penetrate the automotive markets. Johnson & Hoffman are specialists in deep drawn stampings for the automotive air bag industry. Additionally they produce a line of standard products which are sold through distributors.

``The acquisition brings together two companies who have complementary strengths. Jade gains the expertise and technology of a proven performer in the stamping and deep drawing markets while J&H receives the benefits of our established worldwide marketing support and distribution channels,'' said Brian Manley, President, CEO, of Jade.``

``Johnson & Hoffmans technology is based upon sophisticated press transfer tooling and proprietary alloys and manufacturing expertise,'' said John Delp, COO of Jade. ``We will deliver technologically superior stamped solutions that address the entire product development process from conceptualization through manufacturing, emphasizing design-for-manufacturability. This acquisition is the catalyst for Jades automotive stratagems and will reinforce Jades reputation as a value supplier.''

Terms of the acquisition were not disclosed. The approximately 85 employees of J&H--a fifty six-year-old, privately held company--will continue to work out of their Long Island location. J&H has been ISO9002 and QS9000 certified since 1998.

``This acquisition is an example of Jades ongoing commitment to provide `best-value, complimentary crafted' solutions to its customers,'' said Greg D. Lightle, General Manager, J&H. ``While Jade clearly possesses the financial resources to create much of the technology we provide, I believe the company deserves great credit for building its presence in this market by acquiring our proven technology and people that are already closely tied to applications and end users.''

``We're excited about the future because of the strong technical fit between our respective product lines service and the strong cultural fit between our employees,'' Lightle continued. ``People need to recognize this acquisition is more than just a purchase--it represents a commitment to supplying world-class manufacturing services to customers worldwide.''

Currently, through its existing product line, J&H provides:
Airbag components, Carr Teenuts and Plug Buttons, Burst disks, Electronic connector components, Glass to Metal Seals, Igniter cups and Ordnance for the federal government, Other specialty stampings

JADE Corporation
3063 Philmont Avenue
Huntingdon Valley, PA 19006
215-947-3333
www.jadecorp.com
www.johnsonhoffman.com

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