CPI Receives 'EMPLOYEE OWNERSHIP AWARD' From National Magazine

    
NEW BERN, NC - Chatsworth Products, Inc. (CPI), a 100% employee-owned leading manufacturer of structural support systems for technology equipment, has been honored with a special award. A major national publication -Business Ethics magazine- recently announced that CPI has been selected as the 2001 recipient of its prestigious 'Employee Ownership Award'

Business Ethics is a Minneapolis-based, fifteen year-old publication that focuses on corporate social responsibility. Awards in three categories (Environmental Excellence, Corporate Citizenship and Employee Ownership) are given annually to companies that exemplify outstanding achievements in these categories and set the standard for other businesses to follow. Past winners include such prestigious companies as Hewlett Packard, Silicon Graphics, Herman Miller, Merck, and Levi Strauss.

Celebrating its 10th year of operations, CPI was recognized by the magazine "For Providing A Decade Of Leadership In Promoting Employee Ownership, Both Inside And Outside The Company." CPI's president, Joseph Cabral, commented: "Given the prestige of this award, the quality of past recipients, and the process of selection (there is no application or public nominating process), our being chosen is most humbling. It is also confirmation that Employee Ownership Through ESOPs (Employee Stock Ownership Plans) works and that we are making a difference." Added Terry Tyndall, Vice President of Human Resources: "Our being recognized by the award is particularly gratifying to us because it confirms what we have held dear for more than a decade- things like ethics, corporate responsibility and a family work environment. These precepts represent the very cornerstones of what we are all about. While our primary mission is to delight our customers, we are very proud of achieving this milestone together as a family of employee owners."

CPI's Cabral and Tyndall, along with representatives from General Motors, The MONY Group, General Mills and other high profile companies were in attendance as the award was announced during a presentation held in Minneapolis in November, 2000. Also in attendance were officials from prominent financial institutions and centers of higher learning.