Cohesant Announces Date of Special Meeting to Consider GlasCraft Sale

  
    
  
  
    
      Cohesant Technologies Inc. (Nasdaq: COHT)(“Cohesant”) 
      today announced that a special meeting of stockholders will be held on 
      February 27, 2008 to consider the proposal to approve and adopt the 
      previously disclosed merger agreement providing for the merger of 
      Cohesant with a wholly-owned subsidiary of Graco Inc. Pursuant to the 
      merger agreement, each outstanding share of Cohesant Common Stock will 
      be converted into a minimum of $9.05 and a maximum of $9.55 in cash, 
      without interest. The exact value of the merger consideration will 
      depend primarily on the dollar amount of transactional expenses and 
      borrowed indebtedness retained by Cohesant following its acquisition by 
      Graco. It is anticipated that, assuming the merger agreement is approved 
      by stockholders, the merger will completed immediately following the 
      stockholders’ meeting. Proxy materials are 
      expected to be mailed to stockholders later this week.
    
    
      Cohesant further announced that the previously announced taxable 
      dividend of one share of its CIPAR Inc. subsidiary for each share of 
      Cohesant common stock outstanding will be paid on February 27, 2008 to 
      stockholders of record on February 26, 2008. Payment of the dividend is 
      subject to completion of the merger.
    
    
      Forwarding Looking Statement
    
    
      Except for the factual information contained herein, the matters set 
      forth in this press release, including statements identified by words 
      such as "expects" "anticipates" and similar expressions are 
      forward-looking statements within the meaning of the safe harbor 
      provisions of the Private Securities Litigation Reform Act of 1995, 
      including Section 27A(i) of the "safe harbor" provisions of the 
      Securities Act of 1933 and Section 21E(i) of the Securities Exchange Act 
      of 1934. These forward-looking statements are made subject to 
      significant risks and uncertainties that could cause actual results to 
      differ materially from those stated. You should not place undue reliance 
      on these forward-looking statements, which speak only as of the date of 
      this press release. Cohesant undertakes any obligation to publicly 
      release any revisions to these forward looking statements to reflect 
      events or circumstances after the date of this press release or to 
      reflect the occurrence of unanticipated events.
    
    
      Merger/Special Dividend Information
    
    
      In connection with the proposed merger with Graco Inc., the Company has 
      filed a proxy statement/information statement with the SEC. Stockholders 
      and investors are advised to read the proxy statement/information 
      statement because it will contain important information about the 
      merger, the Company, and CIPAR. Stockholders and investors may obtain a 
      free copy of the proxy statement/information statement and other 
      documents (including CIPAR’s Form 10-SB) filed 
      by the Company and CIPAR with the SEC at the SEC's web site at www.sec.gov. 
      Free copies of the proxy statement/information statement and the 
      Company's other filings with the SEC, may also be obtained from the 
      Company at www.cohesant.com by 
      clicking on the "Investors" tab and then following the link at 
      "Financial Information" to "SEC Filings." Free copies of the Company's 
      filings may be obtained by directing a written request to 5845 W. 82nd 
      St., Indianapolis, IN 46278, Attention: Corporate Secretary or by 
      telephone at 317-871-7611.
    
    
      Participants in the Solicitation
    
    
      The Company and its directors, executive officers and other members of 
      its management may be deemed to be soliciting proxies from the Company's 
      stockholders in favor of the merger. Investors and stockholders may 
      obtain more detailed information regarding the direct and indirect 
      interests in the merger of persons who may, under the rules of the SEC, 
      be considered participants in the solicitation of the Company's 
      stockholders in connection with the merger by reading the proxy 
      statement regarding the merger which has been filed with the SEC. 
      Information about the Company's directors and executive officers may be 
      found in the Company's definitive proxy statement filed with the SEC on 
      May 4, 2007. These documents will be available free of charge once 
      available at the SEC's web site at www.sec.gov 
      or by directing a request to the Company as described above.