SECURITIES AND EXCHANGE COMMISSION
                                Washington, DC  20549

                                       FORM 10-K

(X)	 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
     EXCHANGE ACT OF 1934 

    	FOR FISCAL YEAR ENDED MARCH 31, 1998.

( )  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934 
    	For the transition period from ________ to ________.

Commission File No.: 0-23474
                               TRIPLE S PLASTICS, INC.
              (Exact name of registrant as specified in its charter)

        	Michigan	                                         38-1895876
   State or other jurisdiction of                      (I.R.S. Employer
  	incorporation or organization)	                    Identification No.)

          14320 Portage Road, Vicksburg, Michigan        49097-0905
         (Address of principal executive offices)        (Zip Code)

                                     (616)649-0545
                 (Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

   	Title of each Class	               Name of each exchange on which registered
  	        None

Securities registered pursuant to Section 12(g) of the Act:

                              Common stock, no par value
                                   (Title of Class)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13, or 15(d) of the Securities Exchange Act of 1934 
during the preceding 12 months (or for such shorter period that the registrant 
was required to file such reports), and (2) has been subject to such filing 
requirements for the past 90 days.
      	Yes: __X__     No: _____

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 
of Regulation S-K is not contained herein, and will not be contained, to the 
best of registrant's knowledge, in definitive proxy or information statements 
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.   [X]

As of May 31, 1998, there were 3,742,993 shares of the registrant's common 
stock, no par value, outstanding. The aggregate market value of the common stock
held by non-affiliates of the registrant (i.e., excluding shares held by 
executive officers, directors, and control persons as defined in Rule 405) on 
that date was approximately $10,439,546 computed on the closing price on that 
date.

Portions of the Company's Proxy Statement for its 1998 Annual Meeting of
Shareholders are incorporated by reference into Part III.

                          Exhibit Index located at page 29
                                     Page 1 of 32
<PAGE>
                                     	PART I

Item 1. Business

  (a)	 General Development of Business

  Triple S Plastics, Inc. (the "Company" or "Triple S") was organized as a 
  Michigan corporation in 1969, when injection molding operations began in a 
  leased facility in Kalamazoo, Michigan. The building that currently houses 
  the Company's headquarters and principal manufacturing operations in 
  Vicksburg, Michigan, was constructed in 1974. In 1978, the Company constructed
  a second injection molding facility (originally known as Victor Plastics) and
  also constructed its Satellite Mold facility, which is dedicated to mold
  production, both in Vicksburg.  In 1983, the Company supplemented its mold
  building capacity by acquiring the A-Tech Mold manufacturing plant in
  Schoolcraft, Michigan.  Also in 1983, the Company built its injection molding
  plant in Tucson, Arizona.

  The Company completed an initial public offering of its common stock in March
  of 1994. Proceeds of that offering were used to finance building expansions, 
  purchase new equipment for those facilities, retire existing debt and fund
  working capital needs.  

  Triple S completed two construction projects in fiscal 1995 for the purpose of
  expanding its injection molding capacity.  A new 64,000 square foot facility 
  was constructed in a modern industrial park in Battle Creek, Michigan.  In 
  addition, the Company completed a 52,000 square foot expansion of its Tucson,
  Arizona facility. In October 1995, the Company began operations in a 64,000
  square foot leased injection molding facility in Georgetown, Texas. (See 
  Item 2, Properties)

  In fiscal 1998, the Company consolidated the operations of its Victor Plastics
  plant into its Vicksburg facility and its Battle Creek facility. The Victor 
  Plastics facility is currently being leased to a third party. In fiscal 1998,
  the Company also consolidated its A-Tech Mold manufacturing operation into its
  Satellite Mold facility in Vicksburg, Michigan, and renamed the operation 
  Triple S Plastics, Inc. Tooling and Technology Centre. (See Item 2, 
  Properties)  

  (b)	 Financial Information About Industry Segments

  The Company's operations are in one industry segment--the manufacture of 
  thermoplastic components, most of which are complex, highly engineered 
  components primarily for sale to original equipment manufacturers. The Company
  has no significant export sales.  Therefore, no separate industry segment 
  information is presented.

  (c) 	Narrative Description of Business

General

Triple S manufactures complex, highly engineered thermoplastic components and
the molds to produce those components primarily for the consumer products, 
information technologies, automotive, medical/pharmaceutical  and telecommu-
nications markets. During the most recent fiscal year, the Company
manufactured over 2,000 different components for more than 250 customers in
these markets. The Company considers both mold building and molded component 
manufacturing to be integral parts of its business. The Company manufactures
only custom components based on customer specifications and, therefore, is
generally the exclusive source of supply for the product being sold to the
customer, although customers generally use more than one molder.

The Company's product development and production operations include design 
assistance, component engineering, mold design, prototype and production mold
construction, process engineering and high quality component production.  In 
addition, the Company provides value added post-molding assembly and finishing
operations, including ultrasonic welding, heat staking, solvent bonding, 
decorative services, machining and press-side packaging. Mold delivery lead
time and component quality are generally key factors in the award of contracts
for complex components. The Company has made significant investments in
state-of-the-art CAD/CAM systems and related design and machining equipment to
accelerate its component mold design and construction process. Each injection
molding machine is equipped with a computerized process controller to 
continuously monitor component quality and consistency.  The Company believes
that its integrated operations, ability for short lead-time mold delivery and
product quality provide competitive advantages in the markets in which it 
operates.  

Certain developments in markets served by the Company have created growth 
opportunities for suppliers of plastic components.  Efforts to reduce weight,
enhance design flexibility and reduce costs have resulted in the substitution
of plastic for wood, glass, paper, metal and other materials in numerous 
applications.  In addition, Original Equipment Manufacturers (OEMs) are
continuing to outsource not only the manufacture but also the design, 
engineering and assembly of plastic components to qualified suppliers. OEMs
are consolidating their purchases with larger, integrated components suppliers
that possess full-service capabilities for all functions from mold design 
through post-molding assembly and finishing operations.  The Company believes
that its technical expertise with respect to plastic resins and injection 
molding technology, and its capacity for full service, high-quality response 
to the needs of customers will enable the Company to continue to grow as a 
result of these market dynamics.  

Markets and Products

The Company produces components for customers that operate principally in 
five markets: consumer products, information technologies, automotive, 
medical/pharmaceutical and telecommunications.

Consumer Products Market.  Customers in the consumer products market manu-
facture products such as lawn and garden equipment, photographic equipment, 
home entertainment devices and luggage.  Products sold to customers in this 
market include components for chain saws and string trimmers, camera 
components, CD player enclosures, and various housings and covers. Sales to 
this market in fiscal 1998, 1997 and 1996 represented approximately 38%, 32% 
and 26% of total sales, respectively. The Company expects the use of plastics
in this broad market to continue to grow as new thermoplastic resins evolve,
with higher strengths, better impact and heat resistance and other physical
properties that will increase the trend towards the substitution of plastics
for other materials.  Sales to one customer in this market, McCulloch
Corporation, accounted for 15%, 14%  and 10% of total sales for fiscal 1998, 
1997 and 1996, respectively.

Telecommunications Market. Customers in this market manufacture products such
as cellular phones, pagers and related accessories. Sales to this market in 
fiscal 1998, 1997 and 1996 represented approximately 15%, 11% and 4% of total
sales, respectively. Customers in this market require high levels of CAD 
assisted design engineering, thin-wall molding, in-mold decorating and 
assembly. Because of the Company's expertise in these areas and the strong 
growth demonstrated by OEMs in this market, telecommunications is a target
market for growth for the Company. Sales to one customer in this market, Nokia
Mobile Phones, accounted for 12% and 4% of total sales for fiscal 1998 and
1997, respectively, and was insignificant in fiscal 1996.

Medical/Pharmaceutical Market.  Customers in the medical/pharmaceutical 
market are comprised primarily of manufacturers of durable medical equipment 
for use in non-sterile, non-invasive applications.  Products sold to customers
in this market include components for urological appliances, hospital
stretchers and beds, disposable wound irrigation instruments, intravenous hose
connectors and glucose test kits. Sales to this market in fiscal 1998, 1997 
and 1996 represented 14%, 11% and 11% of total sales, respectively. The 
Company has targeted this market for expansion because customers tend to 
require product engineering services for high volume components with close
tolerances and post-molding assembly and finishing services.  

Information Technologies.  Customers in the information technologies market 
are primarily manufacturers of computers, printers, copy machines, laser 
scanners and bar code readers. The products supplied by the Company to these
customers include components for personal computers and peripheral equipment,
and laser and bar code scanners. Sales to this market in fiscal 1998, 1997 and
1996 represented approximately 15%, 24% and 36% of total sales, respectively. 
This decrease represents the completion of several customer projects during 
1997 which were not replaced with domestic suppliers. Shortened product life 
cycles in this market have driven OEMs to find and work closely with suppliers
who can effectively compress lead times through concurrent engineering and 
accelerated mold deliveries. Sales to one customer in this market, 
International Business Machines Corporation, accounted for 5%, 8% and 16% of 
total sales for fiscal 1998, 1997 and 1996, respectively.

Automotive Market.  Sales in the automotive market are made mostly to first-
tier suppliers to automobile manufacturers.  Products sold to customers in 
this market include interior mechanical and seating components, headlight 
adjustment brackets, outside mirror shells and components for electrical and
audio systems. Sales to this market in fiscal 1998, 1997 and 1996 represented
approximately 15%, 18% and 19% of total sales, respectively. Automotive OEMs 
and first-tier suppliers are relying on fewer vendors possessing broader 
capabilities.  First-tier suppliers have been increasing the outsourcing of
the design and manufacture of plastic components and are purchasing more
complex subassemblies from a shrinking base of suppliers.  While this market
becomes increasingly competitive, the Company believes it has the capabilities
to serve many customers in this market, but it is not one of the key market 
areas for the Company.  The Company's Battle Creek, Michigan facility, which 
was constructed in fiscal 1995, was strategically located to more effectively
serve the Company's automotive customers.

Sales and Marketing
 
The Company currently markets its services on a national basis through its 
direct sales force of eight people and four independent manufacturers' 
representative organizations. During fiscal year 1998 the Company added a 
Vice President of Sales and Marketing in addition to three salespeople, an
increase of 100% compared to fiscal year 1997. 

Operations

The Company designs, engineers and constructs molds used to produce thermo-
plastic components at its Tooling and Technology Centre in Vicksburg, Michigan.
This facility is equipped with modern design and machining equipment, including
CAD/CAM systems, translators and plotters, electrical discharge machining
equipment, CNC milling equipment and miscellaneous support equipment. The
Company's mold production capacity is generally devoted to the production of
molds to be used by the Company for the production of injection molded
components for its customers. In substantially all cases, the customer owns the
mold, but possession is retained by the Company for production. The Tooling
and Technology Centre also conducts prototype and development projects,
frequently in conjunction with resin suppliers and customers' engineers. Through
the many projects undertaken at its Tooling and Technology Centre, the Company
has gained experience with nearly all resins currently in use for injection
molding.  This expertise combined with the Company's injection molding
production experience enables the Company to provide innovative solutions for
its customers.

The Company has four facilities that are full service custom injection molding
plants with post-molding secondary operations.  These facilities collectively
house 97 horizontal injection molding machines with capacities ranging from 
55 tons to 720 tons and 1 vertical machine with capacity of 40 tons. Each 
machine utilizes a computerized process controller that continuously monitors
key process parameters on a real time basis and signals the operator if any
parameter falls outside predetermined statistical limits.  The injection molding
process is supported by automated systems for raw material drying, conveying and
regrinding.  Two of the Company's plants have received ISO 9002 certification,
an international quality standard. The Company is also pursuing certification
of its facilities in Georgetown, Texas and Battle Creek, Michigan.

Value added post-molding secondary services, including ultrasonic inserting and 
welding, heat staking, solvent bonding, finishing, machining, assembly and 
on-line packaging are offered to the Company's customers.  These important 
services support the customers' requirements for subassembled components, which
provide cost savings and manufacturing efficiencies.  

Raw Materials

The principal raw materials used by the Company are thermoplastic  resins.  The 
Company uses over 300 different resins, nearly all of which are classified as 
engineering grade resins, as compared to lower priced commodity grade resins.  
Resins are generally purchased for the production of existing orders. The 
Company purchases its raw materials from several different sources, and these 
materials are available from several suppliers.

Backlog

At March 31, 1998, the Company's backlog was approximately $15 million, which is
up slightly from the previous year. Backlog generally does not exceed one 
quarter's manufacturing capacity and the Company's customers generally do not 
issue purchase orders for more than the next quarter's requirements. Management
believes that all of the existing backlog will be completed during the current
fiscal year.

Employees

At March 31, 1998, the Company employed 627 full time and 8 part time employees.
The Company has no employees who are represented by a labor union, and considers
its relations with its employees to be good. 

Competition

The injection molding business in the Company's markets is highly competitive.
The Company focuses on complex components with close tolerances where it 
competes principally on the basis of technical expertise, customer service, 
product quality and rapid mold production, although price is also an important 
competitive factor.  There are many suppliers of plastic injection molded 
components, including many that are larger than the Company with greater 
financial resources.

Patents and Trademarks

The Company does not own any patents, registered trademarks or licenses, 
although the Company claims certain common law trademark rights.  In general, 
the Company relies on its technological capabilities, manufacturing quality 
control and know-how, rather than patents, in the conduct of its business.  

Item 2.  Properties

The following table sets forth information regarding the Company's mold making
and component production facilities:

         Location                 Size	                   Function

   Tucson, Arizona            92,000 sq. ft.   Injection molding, post-molding 
                                               operations and	office

   Battle Creek, Michigan		   64,000 sq. ft.	  Injection molding, post-molding 
                                               operations and office

   Georgetown, Texas		        64,000 sq. ft.   Injection molding, post-molding 
                                               operations and office

   Vicksburg, Michigan		      59,000 sq. ft.   Corporate headquarters, injection
                                               molding, post-molding operations
                                               and warehouse

   Vicksburg, Michigan		      26,000 sq. ft.   Mold manufacturing, Tech Centre
                                               and office


The Company owns all of its facilities except for the Georgetown facility, which
is leased. In addition, the Company owns a 40,000 sq. ft. facility in Vicksburg,
Michigan which is leased to a third party. The Company's current facilities are 
considered suitable and adequate for current and near-term production needs.

Item 3.  Legal Proceedings

The Company is not a party to any legal proceedings that are material within the
meaning of Regulation S-K.

Item 4.  Submission of Matters to a Vote of Security Holders

No matters were submitted to a vote of security holders during the fourth 
quarter ended March 31, 1998.

Additional Item:  Executive Officers of the Registrant.  

The following table lists the names, ages and positions of all of the Company's 
executive officers.  Officers are elected annually by the Board of Directors at
the first meeting of the Board following the annual meeting of shareholders.

    Name	                    Age	        Position
		
Daniel B. Canavan	            44	        Chairman of the Board and Chief 
                                           Executive Officer
Victor V. Valentine, Jr.	     52	        President
Robert D. Monk	               47	        Vice President of Finance, Chief 
                                         Financial Officer, Secretary/Treasurer
Michael E. Zaagman	           40	        Vice President of Operations
Phillip W. Weaver	            45	        Vice President of Human Resources and 
                                           Organizational Development
Matthew E. Bliemeister	       38	        Vice President of Sales and Marketing


Daniel B. Canavan has been Chairman of the Board and Chief Executive Officer of
the Company for more than five years.  

Victor V. Valentine, Jr, has been President of the Company for more than five 
years.

Robert D. Monk joined the Company as Vice President of Finance, C.F.O. and 
Secretary/Treasurer on April 1, 1996.  For the prior 12 years, Mr. Monk was 
employed by Stryker Corporation, as Vice President - Finance of the Medical 
Division for the most recent two years, and prior to that as Treasurer and 
Corporate Controller.

Michael E. Zaagman has been Vice President of Operations since January 1997. 
Mr. Zaagman joined Triple S Plastics, Inc. as the Corporate Director of 
Materials in March 1995. Previously he held various positions with the Sequest
Closures Division of Aptar Corporation.

Phillip W. Weaver has been Vice President of Human Resources and Organizational 
Development since April 1997. Mr. Weaver joined Triple S Plastics, Inc. as the 
Corporate Director of Human Resources in April 1996. For the prior four years he
was employed at Atlantic Automotive components, a joint venture between Ford 
Motor Company and Rockwell International, as the Director of Human Resources. 

Matthew E. Bliemeister joined the Company as Vice president of Sales and 
Marketing in December 1997. For the prior 13 years, Mr. Bliemeister was employed
by Polymerland, Inc., a subsidiary of General Electric Company where he held 
several sales and sales management positions.

<PAGE>
PART II

Item 5.  Market for Registrant's Common Equity and Related Shareholder Matters

The Company's common stock is traded on the Nasdaq Stock Market under the symbol
TSSS. The price quotations reported below were supplied by the NASD.

   Fiscal	          Quarter	           High	         Low	         Close
    1998	             4th	            6 3/4         5 3/4	        6 1/4
    	3rd	                             7 1/2	        6 1/8	        6 3/16
    	2nd	                             9 1/4	        7 1/4	        7 1/2
    	1st	                             8 3/8	        6 5/8         8
				
    1997	             4th	            9 1/2         6 1/2	        7
    	3rd	                             8 3/4	        5             7 3/4
    	2nd	                             6 1/4	        4 1/2	        5 3/8
    	1st	                             7 5/8	        5 3/8	        5 5/8

As of April 30, 1998, there were 280 record holders of the Company's common 
stock. Based on the number of sets of proxy materials mailed by the Company's 
transfer agent, the Company estimates there are 2,000 additional beneficial 
owners of the Company's common stock who hold the stock in street name.  No 
cash dividends have been paid during the past two years. Management has no plans
to pay cash dividends in the near future.

Item 6.  Selected Financial Data
                                        	Fiscal Years Ended March 31
                                    (in thousands, except per share data)
                               	1998	     1997      1996	     1995	     1994
Income Statement Data:					
  Net sales	                 $ 67,414	 $ 64,608	 $ 61,270	 $ 54,051	 $ 43,472
  Gross profit	                11,830   	10,464     9,271	   12,245	   10,917
  Operating income	             2,782	    2,447	    1,995	    5,372	    5,663
  Interest expense, net	          325	      358	      408	       80	      619
					                        --------  --------  --------  --------  --------
  Income before income taxes	   2,457    	2,089    	1,587	    5,292	    5,044
  Income taxes          	         860	      760	      549	    1,866	    1,685
                             --------  --------  --------  --------  --------
  Net income	                $  1,597	 $  1,329	 $  1,038	 $  3,426	 $  3,359
					                        ========  ========  ========  ========  ========
Basic and Diluted Per Share Data:					
  Net income	                $    .43	 $    .36  $    .28  $    .92  $   1.30
					                        ========  ========  ========  ========  ========
Weighted average shares outstanding:					
  Basic                        	3,740    	3,734     3,727     3,724    	2,586
  Diluted	                      3,752	    3,738	    3,727	    3,724    	2,586


                                          	March 31 (in thousands)
                               	1998	     1997	    1996      1995	     1994
Balance Sheet Data:					

Working capital            	$  12,168 	$ 10,683  $  9,561  $ 12,241	 $ 16,290

Total assets                $  50,030	 $ 48,870	 $ 46,150 	$ 42,339 	$ 38,113

Long-term debt, less 
  current maturities	       $   6,603 	$  7,251  $  8,747  $  5,666  $  6,077

Shareholders' equity	       $  31,981	 $ 30,353  $ 28,981  $ 27,902  $ 24,471
<PAGE>
Item 7.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

The Company is a full-service custom injection molder, providing mold design 
and engineering services, mold manufacturing, injection molding, and post-
molding assembly and finishing operations to a diverse base of customers. Its 
customers are primarily in the consumer products, telecommunications, 
medical/pharmaceutical, information technologies, and automotive markets. The 
Company operates in one business segment and backlog generally does not exceed 
one quarter's manufacturing capacity. The Company's fiscal year is March 31 and,
unless otherwise noted, references to fiscal 1998, 1997, and 1996 relate to the
fiscal years ended March 31, 1998, 1997, and 1996.

RESULTS OF OPERATIONS

The table below outlines the components of the Company's Statements of Income
as a percentage of net sales:

Fiscal Year ended March 31	         1998	         1997	          1996
Net sales	                         100.0%	       100.0%	        100.0%
Cost of sales	                      82.5	         83.8           84.9
Gross profit	                       17.5	         16.2	          15.1
S,G&A expenses	                     13.4	         12.4	          11.8
Operating income	                    4.1	          3.8	           3.3
Interest expense, net	                .5	           .6	            .7
Income before income taxes	          3.6	          3.2	           2.6
Income taxes	                        1.2	          1.1	            .9
Net income	                          2.4%	         2.1%	          1.7%

FISCAL 1998 COMPARED TO FISCAL 1997

Net sales for fiscal year 1998 were $67.4 million, an increase of $2.8 million,
or 4.3%, over net sales of $64.6 million for fiscal year 1997.  The overall 
increase in sales is primarily related to volume as no significant price 
increases occurred during fiscal 1998.  Sales to customers in the telecommuni-
cations market showed strong growth increasing $3.4 million, or 49%, in fiscal 
1998 and represented 15% of sales compared to 11% in 1997.  Sales to customers 
in the consumer products market increased 22% and represented 38% of sales in
fiscal 1998 compared to 32% in 1997. One major customer in this market has 
notified the Company that they intend to transition their plastic component
production to Mexico. Therefore, the Company's future sales to this market may
be reduced. Sales to customers in the medical market represented 14% of sales in
fiscal 1998 compared to 11% in 1997 and remained strong, reflecting growth of 
24% in fiscal 1998.  These increases were somewhat offset by decreases of 35% 
and 14% to customers in the information technologies and automotive markets, 
respectively.  These decreases represent the completion of several customer 
projects during 1997 which were not replaced with new projects. The decrease in 
the automotive market was also impacted by one customer who moved their tools 
into their own molding facility. However, shortly thereafter the work was 
returned to the Company. 

Cost of sales represented 82.5% of sales in fiscal 1998 compared to 83.8% in 
1997. The lower cost of sales percentage in 1998 is principally attributed to 
mold manufacturing cost reductions in addition to the Company's continued 
efforts in molded part manufacturing cost reductions as a result of 
manufacturing efficiency improvement initiatives. These initiatives contributed
to reduced labor as a percentage of sales. Also contributing to the lower cost
of sales was the consolidation of the Company's Victor Plastics plant into its
Vicksburg and Battle Creek facilities, as well as the consolidation of its mold
manufacturing operations into its Tooling and Technology Centre. All costs
incurred relating to facility consolidations were incurred during fiscal 1998
and no additional costs are anticipated for future periods. These cost 
reductions were offset by increased depreciation expense of $241,000 compared
to the prior year as a result of increased capital expenditures.

Selling, general, and administrative expenses increased 13% to $9.0 million in 
1998 from $8.0 million in 1997, and increased as a percentage of net sales to 
13.4% in 1998 compared to 12.4% in 1997. The increase principally relates to 
increased compensation due to increased sales and engineering staff and taxes 
other than income taxes. The Company's effective tax rate decreased slightly to
35.0% in fiscal 1998 compared to 36.4% in 1997.  Net income in fiscal 1998 was 
$1.6 million compared to $1.3 million in 1997, an increase of 20%.

FISCAL 1997 COMPARED TO FISCAL 1996

Triple S Plastics' net sales increased 5% in fiscal 1997 to $64.6 million from 
$61.3 million in 1996. The increase in sales was primarily attributable to 
increased sales to established customers and sales to new customers, rather than
price increases on existing products. Approximately 70% of the Company's sales 
in 1997 were to 10 customers, including at least one customer in each of the 
business markets served by the Company. The Company's sales increased to all the
markets the Company serves except information technologies, which decreased 30%,
but still represented 24% of total sales. This decrease represented the 
completion of several customer projects during 1997 which were not replaced with
new projects. Sales to the consumer products market grew 30% in fiscal 1997 and
represented 32% of sales compared to 26% in 1996. Sales to the telecommuni-
cations market showed strong growth of 152%, increasing to 11% of sales in 1997
compared to 4% in 1996. Sales in the medical and automotive markets also
remained strong, increasing 13% and 4%, respectively.

Cost of sales increased 4% over the prior year but decreased to 83.8% of sales 
compared to 84.9% in 1996. The lower cost of sales percentage in 1997 
principally resulted from a reduced material cost of sales ratio (due to the 
sales mix) and from some realized manufacturing efficiencies and cost reductions
compared to the prior year. This decrease occurred despite a 14% across the 
board production associate wage increase in the third quarter and an increase in
depreciation expense of $384,000 resulting from increased capital expenditures.

Selling, general and administrative expenses increased $741,000 or 10%, to 
$8.0 million in 1997. As a percentage of net sales, these expenses increased 
slightly to 12.4% in 1997 compared to 11.8% in 1996. The increase was 
principally due to increased depreciation, salaries and professional services as
the Company completed the comprehensive upgrade of its information systems in
the third quarter.

Net interest expense decreased slightly to $358,000 or .6% of net sales in 1997,
compared to $408,000 or .7% in 1996. The decrease is due to the Company not 
borrowing on its available line of credit during 1997 as well as a general 
reduction of long-term debt.

The effective income tax rate increased to 36.4% in fiscal 1997 compared to 
34.6% in 1996. The increase is due to variances in non-deductible expenses for
income tax purposes. Net earnings increased 28% to $1.3 million in 1997 compared
to $1.0 million in 1996.

LIQUIDITY AND CAPITAL RESOURCES

The Company's primary cash requirements are for operating expenses and capital
expenditures. Historically, the Company's primary sources of cash have been 
from operations, bank borrowings, and industrial revenue bonds.

Net cash provided by operating activities was $5.0 million for fiscal 1998.
Working capital increased $1.5 million during the year to $12.2 million, 
primarily resulting from the increase in accounts receivable.  Accounts 
receivable increased $2.1 million, or 19%, and days sales outstanding increased
7 days to 61 days compared to the prior year end. The increase is generally due
to the timing of collections on several large tooling programs. The Company is
concentrating more resources in this area to speed up collections. Inventories
decreased $1.2 million, or 25%, compared to the prior fiscal year end, and
represented only 26 days in inventory compared to 31 days at the prior fiscal
year end.

The Company has made a significant investment in capital equipment in the last 
two years. Capital expenditures were $3.7 million and $2.2 million for fiscal 
1998 and 1997, respectively.

The Company has $2.9 million of restricted cash on hand at March 31, 1998 from
the $5.0 million industrial revenue bond issued in October of 1995 to finance 
the expansion of the Georgetown, Texas plant. The Company also has a 
$5.0 million unsecured line of credit agreement with a bank, which has not been
drawn on during 1998. These sources of cash, along with internally generated 
cash, are expected to be sufficient to fund planned future operating and capital
requirements.

OTHER MATTERS

Early in fiscal 1998, the Company began the process of identifying, evaluating
and implementing changes to computer programs and equipment necessary to address
the Year 2000 issue. This issue involves the ability of computer systems and 
equipment that have time-sensitive programs to properly recognize the year 2000.
The inability to do so could result in major failures or miscalculations. The 
Company's plans provide for systems to be Year 2000 compliant by the end of
1999. Based on information currently available form the work performed,
management does not expect that amounts to be expensed for Year 2000 activities
over the next two years will have a material impact on the Company's results of
operations or financial position.

The Company has begun formal communications with its customers and suppliers to 
determine the extent to which interface systems are vulnerable to Year 2000 
issues. There can be no guarantee that the computer systems of other companies 
on which the Company depends will be compliant on a timely basis.

This report contains statements which, to the extent they are not historical 
facts, constitute forward-looking statements within the meaning of the Private 
Securities Litigation Reform Act of 1995. Such forward-looking statements are 
identified by the use of forward-looking words such as "anticipates," "intends,"
"expects," "plans," "believes," "estimates," or similar words. These forward-
looking statements are subject to numerous assumptions, risks, and 
uncertainties, and the statements looking forward beyond 1998 are subject to 
greater uncertainty because of the increased likelihood of changes in underlying
factors and assumptions.  Actual results could differ materially from those 
anticipated by the forward-looking statements.  By making forward-looking 
statements, the Company assumes no obligation to update them to reflect new, 
changed, or unanticipated events or circumstances.

<PAGE>
Item 8.  Financial Statements and Supplementary Data

The following financial statements are filed with this report as pages F-1 
through F-13 following the signature page:
                     	Balance Sheets 
                     	Statements of Income
                     	Statements of Shareholders' Equity
                     	Statements of Cash Flows
                    		Notes to Financial Statements
                    		Report of Independent Certified Public Accountants


                                    PART III

Item 9.  Changes In and Disagreements with Accountants on Accounting and 
         Financial Disclosure

Not applicable.

Item 10.  Directors and Executive Officers of the Registrant

Information relating to executive officers is included in this report in the 
last section of Part I under the caption "Executive Officers of the Registrant".
Information relating to directors appearing under the caption "Election of 
Directors" in the definitive Proxy Statement for the 1998 Annual Meeting of 
Shareholders to be held June 30, 1998, and to be filed with the Commission is
hereby incorporated herein by reference.  Information concerning compliance 
with Section 16(a) of the Securities Exchange Act of 1934 appearing under the
caption "Section 16(a) Beneficial Ownership Reporting Compliance" in the 
definitive Proxy Statement for the 1998 Annual Meeting of Shareholders and filed
with the Commission is hereby incorporated herein by reference.

Item 11.  Executive Compensation

The information contained under the caption "Executive Compensation" contained 
in the definitive Proxy Statement for the 1998 Annual Meeting of Shareholders is
hereby incorporated herein by reference excluding the information under the 
caption "Compensation Committee Report" and "Stock Performance Graph". 

Item 12.  Security Ownership of Certain Beneficial Owners and Management

The information contained under the caption "Securities Ownership of Management"
contained in the definitive Proxy Statement for the 1998 Annual Meeting of 
Shareholders is hereby incorporated herein by reference.

Item 13.  Certain Relationships and Related Transactions

Information relating to certain relationships and related party transactions is 
incorporated by reference to the Company's definitive Proxy Statement for the
1998 Annual Meeting of Shareholders under the caption "Election of Directors".

                                         PART IV

Item 14.  Exhibits, Financial Statements, Schedules and Reports on Form 8-K

  (a)	 The following financial statements are filed as part of this report as 
       pages F-1 through F-13 following the signature page:

       Balance Sheets
       Statements of Income
       Statements of Shareholders' Equity
       Statements of Cash Flows
       Notes to Financial Statements
       Report of Independent Certified Public Accountants


  (b) 	No reports on Form 8-K were filed for the three-month period ended 
       March 31, 1998.

  (c)	 See Exhibit Index located on pages 29 and 30.

  (d)	 The following financial statement schedule is filed as part of this 
       report as page F-15 following the signature page:

       Schedule II - Valuation and Qualifying Accounts

All other schedules required by Form 10-K Annual Report have been omitted 
because they were not applicable, were included in the notes to the financial 
statements, or were otherwise not required under the instructions contained in 
Regulation S-X.

<PAGE>
                                 SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange 
Act of 1934, the registrant has duly caused this report to be signed on its 
behalf by the undersigned thereunto duly authorized.

Dated:  May 27, 1998			           	TRIPLE S PLASTICS, INC.

                                  	By __DANIEL B. CANAVAN__________
                                 		Daniel B. Canavan, Chairman of the Board and
                                 		Chief Executive Officer
                                  	and
                                  	By	__ROBERT D. MONK_____________
                                 		Robert D. Monk, Vice President, C.F.O.,
                                 		and Secretary/Treasurer
                                 		(Principal Financial Officer)
	                                  and
                                  	By	__CATHERINE A. TAYLOR________
                                 		Catherine A. Taylor, Corporate Controller
                                 		(Principal Accounting Officer)

Pursuant to the requirements of the Securities and Exchange Act of 1934, this 
report has been signed below on this 27th day of May 1998, by the following 
persons on behalf of the Registrant and in the capacities indicated.

Each Director of the Registrant whose signature appears below, hereby appoints 
Daniel B. Canavan and Robert D. Monk, and each of them individually as his 
attorney-in-fact to sign in his name and on his behalf as a Director of the 
Registrant, and to file with the Commission any and all Amendments to this 
report on Form 10-K to the same extent and with the same effect as if done 
personally.


__VICTOR V. VALENTINE_________      __ALBERT C. SCHAUER__________
Victor V. Valentine, Director		     Albert C. Schauer, Director


__DAVID L. STEWART____________      __JAMES F. HETTINGER_________
David L. Stewart, Director		        James F. Hettinger, Director


__ROBERT D. BEDILION__________
Robert D. Bedilion, Director

<PAGE>
                          INDEX TO FINANCIAL STATEMENTS

                                                                           Page

Balance Sheets as of March 31, 1998 and 1997	                               F-2

Statements of Income for the years ended March 31, 1998, 1997 and 1996	     F-3

Statements of Shareholders' Equity for the years ended March 31, 1998, 
    1997 and 1996	                                                          F-4

Statements of Cash Flows for the years ended March 31, 1998, 1997 and 1996	 F-5

Notes to Financial Statements	                                              F-6

Report of Independent Certified Public Accountants                         	F-13



                                       F-1
<PAGE>
<TABLE>
                               TRIPLE S PLASTICS, INC.
                                   BALANCE SHEETS
                               (Dollars in thousands)
<S>                                                <C>             <C>
MARCH 31 	                                              1998		          1997
ASSETS			
Current Assets:			
  Cash and cash equivalents	                       $    3,783    		$    2,681
  Accounts receivable, less allowance of $350
   and $255 for possible losses (Note 4)	              13,275 		       11,147 
  Inventories (Notes 2 and 4)                          	3,634 	        	4,833 
  Deferred income taxes (Note 6)	                         360 	          	547 
  Other                                                  	202 		          329 
                                                   ----------      ----------
Total Current Assets	                                  21,254 	   	    19,537 
			                                                ----------      ----------
Property, Plant and Equipment (Notes 4 and 5):			
  Machinery and equipment	                             22,709 		       20,967 
  Land and buildings                                  	12,076 		       11,036 
  Office furniture and equipment	                       3,696 		        3,198 
  Leasehold improvements                                  	27           		102 
                                                   ----------      ----------
                                                      	38,508 	   	    35,303 
  Less accumulated depreciation and amortization      	13,483 		       10,716 
                                                   ----------      ----------
Net Property, Plant and Equipment	                     25,025 		       24,587 
			                                                ----------      ----------
Other:			
  Cash restricted for capital expenditures (Note 4)    	2,932 	        	3,787 
  Goodwill, net of accumulated amortization
   of $469 and $431	                                      679           		717 
  Miscellaneous                                          	140           		242 
                                                   ----------      ----------
Total Other Assets                                     	3,751         		4,746 
                                                   ----------      ----------
                                                  	$   50,030    		$   48,870 
                                                   ==========      ==========
LIABILITIES AND SHAREHOLDERS' EQUITY			
Current Liabilities:			
  Accounts payable	                                $    5,182    		$    4,540 
  Accruals:			
     Compensation	                                      1,167         		1,096 
     Other                                               	888           		647 
  Deferred mold revenue	                                  503           		622 
  Current maturities of long-term debt (Note 4)	        1,346         		1,949 
                                                   ----------      ----------
Total Current Liabilities                              	9,086         		8,854 
			
Long-Term Debt, less current maturities (Note 4)       	6,603 	        	7,251 
			
Deferred Income Taxes (Note 6)	                         2,360 		        2,412 
                                                   ----------      ----------
Total Liabilities	                                     18,049 	       	18,517 
			                                                ----------      ----------
Shareholders' Equity (Notes 4 and 9):			
  Preferred stock, no par value, 1,000,000
    shares authorized, none issued                       	-- 	           	-- 
  Common stock, no par value, 10,200,000 
    shares authorized, 3,741,951 and 3,736,941 
    shares issued and outstanding                     	14,444 	       	14,413 
  Retained earnings                                   	17,537        		15,940 
                                                   ----------      ----------
Total Shareholders' Equity	                            31,981        		30,353 
                                                   ----------      ----------
                                                  	$   50,030     	$   48,870 
                                                   ==========      ==========

See accompanying notes to financial statements.
</TABLE>
                                       F-2
<PAGE>
<TABLE>
                               TRIPLE S PLASTICS, INC.
                                STATEMENTS OF INCOME
                      (In thousands, except per share amounts)
<S>                                        <C>         <C>         <C>
                                                  	Years ended March 31
                                              	1998       	1997      		1996
Net Sales                                 	$  67,414 		$  64,608 		$  61,270 
Cost of Sales                                	55,584    		54,144    		51,999 
                                           ---------   ---------   ---------
Gross Profit                                 	11,830    		10,464     		9,271
 
Selling, General & Administrative Expenses    	9,048     		8,017     		7,276 
					                                      ---------   ---------   ---------
Operating Income                              	2,782     		2,447     		1,995 
					                                      ---------   ---------   ---------
Interest (Income) Expense:					
  Interest expense                              	603       		594 	      	607 
  Interest income                              	(278)		     (236)	     	(199)
                                           ---------   ---------   ---------
Net Interest Expense                            	325       		358       		408 
                                           ---------   ---------   ---------
Income Before Income Taxes                    	2,457     		2,089 	    	1,587 

Income Taxes (Note 6)                           	860       		760       		549 
                                           ---------   ---------   ---------
Net Income                                	$   1,597 		$   1,329 		$   1,038
                                           =========   =========   =========

Basic and Diluted Earnings Per 
  Share (Note 10)	                         $     .43 		$     .36 		$     .28 
                                           =========   =========   =========
Shares Used in Computing Earnings
  Per Share:
  Basic                                       	3,740     		3,734     		3,727 
  Diluted	                                     3,752 	    	3,738     		3,727 

</TABLE>
See accompanying notes to financial statements.




                                        F-3
<PAGE>
<TABLE>
                                TRIPLE S PLASTICS, INC.
                          STATEMENTS OF SHAREHOLDERS' EQUITY
                                 (Dollars in thousands)
<S>                                 <C>           <C>            <C>
	                                                                        Total
                                        Common       Retained    Shareholders'
                                         Stock       Earnings           Equity
                                    ----------    -----------    -------------
Balance, March 31, 1995              $  14,329 	   	$  13,573      		$  27,902 
Issuance of 4,702 shares of 
   Common Stock	                            41 	         	-- 	             	41 
Net income for the year                   	--         		1,038          		1,038 
                                    ----------    -----------    -------------
Balance, March 31, 1996                	14,370 	      	14,611         		28,981 
Issuance of 8,102 shares of 
   Common Stock                            	43          		--              		43 
Net income for the year                   	-- 	        	1,329          		1,329 
                                    ----------    -----------    -------------
Balance, March 31, 1997                	14,413       		15,940         		30,353 
Issuance of 5,010 shares of
   Common Stock                             31          		--              		31 
Net income for the year                   	-- 	        	1,597          		1,597 
                                    ----------    -----------    -------------
Balance, March 31, 1998             	$  14,444    		$  17,537      		$  31,981 
                                    ==========    ===========    =============
</TABLE>
See accompanying notes to financial statements.



                                        F-4
<PAGE>
<TABLE>
                               TRIPLE S PLASTICS, INC.
                               STATEMENTS OF CASH FLOW
                                (Dollars in thousands)
<S>                                          <C>         <C>         <C>
                                                    	Years ended March 31
                                                	1998	      	1997       	1996
Operating Activities					
  Net income	                                $   1,597 		$   1,329 		$   1,038 
  Adjustments to reconcile net income
   to cash provided by operating
   activities:
    Depreciation                                	3,203     		2,934 	    	2,492 
    Amortization                                    74        		75        		72 
    Provision for losses on accounts receivable     95        		30       		188 
    Deferred income taxes                         	135       		190 	     	(175)
    Loss on sale of equipment                      	14 	       	54 	       	47 
    Changes in assets and liabilities:					
      Receivables:
        Trade	                                  (2,223)	   	(1,540)    		1,049 
        Refundable income taxes                   	--        		329      		(329)
        Inventories                             	1,199      		(115)     		(601)
        Other current assets                      	127 	      	(87)	      	(18)
        Accounts payable and accruals             	919 	    	2,323    		(2,094)
        Income taxes payable                       	35       		158      		(172)
        Deferred mold revenue                    	(119)     		(244)     		(126)
                                             ---------   ---------   ---------
Cash Provided by Operating Activities           	5,056     		5,436     		1,371 

Investing Activities					
  Purchases of property, plant and 
    equipment, net of disposals                	(3,655)    	(2,229)   		(5,352)
  Change in restricted cash	                       855        		40    		(3,827)
  Other investing activities                       	66        		53       		(97)
                                             ---------   ---------   ---------
Cash Used in Investing Activities              	(2,734)   		(2,136)   		(9,276)

Financing Activities					
  Net borrowings (payments) on note 
    payable to bank                               	--       		(998)      		998 
  Proceeds from issuance of common 
    stock, net of fees paid                        	31 	       	43 	       	41 
  Proceeds from issuance of long-term debt        	-- 	       	--      		5,000 
  Principal payments on long-term debt         	(1,251)    	(1,046)	     	(699)
                                             ---------   ---------   ---------
Cash Provided by (Used in) Financing 
  Activities                                   	(1,220)	   	(2,001)     	5,340 
                                             ---------   ---------   ---------
Increase (Decrease) in Cash and 
  Cash Equivalents                              	1,102     		1,299 	   	(2,565)
Cash and Cash Equivalents, beginning 
  of year                                       	2,681     		1,382     		3,947 
                                             ---------   ---------   ---------
Cash and Cash Equivalents, end of year      	$   3,783 		$   2,681 		$   1,382 
                                             =========   =========   =========
</TABLE>
See accompanying notes to financial statements.  


                                       F-5
<PAGE>
                               TRIPLE S PLASTICS, INC.
                            NOTES TO FINANCIAL STATEMENTS

1.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BUSINESS
	The Company operates in a single business segment and is a fully integrated 
manufacturer of complex, highly engineered thermoplastic components for 
customers primarily in the consumer products, telecommunications, 
medical/pharmaceutical, information technologies and automotive markets.

During the years ended March 31, 1998, 1997 and 1996, a consumer products 
customer accounted for 15%, 14% and 10% of net sales, respectively, an 
information technologies customer accounted for 5%, 8% and 16% of net sales, 
respectively, and a telecommunications customer accounted for 12% and 4% of net
sales for fiscal 1998 and 1997, respectively, and was insignificant in fiscal
1996.

ACQUISITIONS AND GOODWILL
The financial statements include the net assets of businesses purchased at their
fair value at the acquisition date. The excess of acquisition costs over the 
fair value of net assets acquired is included in and has been allocated to 
goodwill. Goodwill is amortized on a straight-line basis over a thirty year
life.

INVENTORIES
Inventories are valued at the lower of cost or market. Cost is determined by the
first-in, first-out (FIFO) method.

PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment are stated at cost. Expenditures for renewals and 
betterments are capitalized and maintenance and repairs are expensed as 
incurred. Depreciation and amortization are computed by the straight-line method
over the estimated useful lives of the assets as follows:

              	Buildings	                               40 years
              	Machinery and equipment            	5 to 10 years
              	Office furniture and equipment	     3 to 10 years
              	Leasehold improvements                  	10 years

INCOME TAXES
The Company follows the liability method of accounting for income taxes and 
provides deferred income taxes based on enacted income tax rates in effect on 
the dates temporary differences between the financial reporting and tax bases of
assets and liabilities are expected to reverse. The effect on deferred tax 
assets and liabilities of a change in income tax rates is recognized in the 
period that includes the enactment date.

FAIR VALUE OF FINANCIAL INSTRUMENTS
The carrying amounts of the Company's financial instruments, which consist of 
cash, receivables, notes payable, accounts payable and long-term debt, approx-
imate their fair values. For long-term debt, the present value of future cash 
flows, discounted at the Company's current effective borrowing rate, was used to
estimate fair value.

ESTIMATES
The preparation of financial statements in conformity with generally accepted 
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities at the date of the 
financial statements. Actual results could differ from those estimates.

REVENUE RECOGNITION
Revenue is recognized on plastic molded products when the products are shipped
to customers. Revenue on molds is recognized when the mold is completed and
samples of molded parts produced by the tool are shipped to customers. Prior to 
that time, mold revenue and direct mold costs are deferred. Losses are 
recognized when reasonable estimates of the amount of loss can be made. 

                                        F-6
<PAGE>
CASH AND CASH EQUIVALENTS
Cash and cash equivalents consist of unrestricted cash on hand and held in 
banks, money market funds, commercial paper and other short-term investments
with an original maturity of three months or less when purchased.

LONG-LIVED ASSETS
The Company has adopted Statement of Financial Accounting Standards (SFAS) No. 
121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived 
Assets to be Disposed Of. SFAS No. 121 requires that long-lived assets and 
certain intangibles to be held and used by the Company be reviewed for 
impairment whenever events or changes in circumstances indicate that the 
carrying amount of the asset may not be recoverable. Additionally, SFAS No. 121
requires that certain long-lived assets to be disposed of be reported at the
lower of carrying amount or fair value less costs to sell. This statement does
not have a material impact on the financial statements of the Company.

STOCK BASED COMPENSATION
The Company has adopted SFAS No. 123, Accounting for Stock-Based Compensation. 
SFAS No. 123 allows companies to continue to measure compensation cost for 
stock-based employee compensation plans using the intrinsic value method of 
accounting as prescribed in Accounting Principles Board (APB) Opinion No. 25, 
Accounting for Stock Issued to Employees, and related interpretations. The
Company has elected to continue its APB Opinion No. 25 accounting treatment for
stock-based compensation, and has adopted the provisions of SFAS No. 123 
requiring disclosure of the pro forma effect on net earnings and earnings per 
share as if compensation cost had been recognized based upon the estimated fair 
value at the date of grant for options awarded.

EARNINGS PER SHARE
The Company has adopted SFAS No. 128, Earnings Per Share, which establishes 
standards for computing and presenting earnings per share (EPS) for entities 
with publicly-held common stock or potential common stock. SFAS 128 simplifies 
the standards for computing EPS and makes them comparable to international EPS 
standards. The statement requires dual presentation of "basic" and "diluted" EPS
which replace primary and fully diluted EPS, respectively, required under 
previous guidance. All EPS amounts have been recalculated in accordance with 
SFAS No. 128 yielding the same basic and diluted EPS amounts, therefore no
restatement is necessary. 

RECLASSIFICATIONS
Certain prior year amounts have been reclassified to conform to the 1998 
presentation.

2.   INVENTORIES

Inventories are summarized as follows (in thousands):

                                                     	March 31
                                                 	1998      		1997
Raw materials and packaging	                    $ 2,039	  	 $ 2,084
Finished goods and work-in-process	               1,595	     	2,749
                                                -------     -------
Total Inventories	                              $ 3,634   		$ 4,833
                                                =======     =======

3.   LINE OF CREDIT

The Company has entered into a $5 million unsecured line-of-credit agreement 
with a bank, due on demand, with interest on the unpaid principal balance at the
bank's prime rate (8.5% at March 31, 1998). There were no borrowings under this
agreement at March 31, 1998 or 1997, or during the years then ended.

                                       F-7
<PAGE>
4.  LONG-TERM DEBT

Long-term debt consists of (in thousands):

                                                     	March 31
                                                 	1998      		1997
Georgetown Industrial Development 
    Corporation Revenue Bond	                  $  3,580    $  4,216
Michigan Strategic Fund Limited 
    Obligation Revenue Bonds (1989 
    and 1990 series)	                             2,425		     2,820
Mortgage notes payable to bank                   	1,636     		1,692
Other	                                              308	        472
                                               --------    --------
Long-term debt                                   	7,949	     	9,200
Current maturities of long-term debt             	1,346     		1,949
                                               --------    --------
Long-term debt, less current maturities	       $  6,603		  $  7,251
                                               ========    ========

The Georgetown Industrial Development Corporation Revenue Bond provides for 
monthly principal payments ranging from $48,000 to $80,000 plus interest through
November 2002. Interest is fixed at 6.56% through September 2000, and then 
becomes variable at 77% of the bank's base lending rate. Cash restricted for
capital expenditures represents the remaining proceeds from this bond issue,
which are available for capital purchases made through October 1, 1998. 

The Michigan Strategic Fund Limited Obligation Revenue bonds (1989 and 1990 
series) provide for semi-annual interest payments with rates that vary from 6.4%
to 7.65% and annual principal payments through September 2001. The bonds are 
collateralized by a letter of credit with the bank which requires annual 
interest payments of .875% of the outstanding bond balance.

The mortgage notes payable to the bank, maturing $17,607 monthly, include 
interest at rates ranging from 7.07%  to 8.06%, and are due at varying dates
through October 2012.

The above debt is secured by accounts receivable, inventories and property and 
equipment. In connection with the overall bank financing agreement, the Company 
must comply with certain financial and non-financial restrictive covenants. The 
restrictive covenants include limitations on the amount of required working 
capital, the ratio of debt to tangible net worth and the minimum amount of
tangible net worth. At March 31, 1998 and 1997, retained earnings of $6 million
was restricted by terms of the long-term debt described above. At March 31, 
1998, the Company was in compliance with all restrictive covenants.

Maturities of long-term debt for the four fiscal years succeeding 1999 are: 
2000 - $1,322,000; 2001 - $1,380,000; 2002 - $2,041,000; and 2003 - $1,127,000

5.   LEASES AND COMMITMENTS

The Company leases transportation equipment and manufacturing facilities 
under operating leases expiring at various dates through 2003. Management 
expects that in the normal course of business, leases will be renewed or 
replaced by other leases. Minimum lease payments required under operating leases
for future years are as follows: 1999 - $313,000; 2000 - $315,000; 
2001 - $307,000; 2002 - $317,000; and 2003 - $108,000.

Obligations under capital leases included in long-term debt-other include 
$174,000 for computer equipment with an original cost of $432,000 and a net book
value at March 31, 1998 of $192,000.

Total lease expense for facilities and equipment amounted to $407,000 in 1998; 
$423,000 in 1997; and $232,000 in 1996.

                                        F-8
<PAGE>
6.   INCOME TAXES

Provisions for income taxes consist of the following (in thousands):

                                        	Years Ended March 31
                                    	1998		      1997	      	1996
Current:					
   Federal                     	$     675   		$    525  		$    680 
   State and local                    	50		         45		        44 
                                ---------     --------    --------
                                     	725        		570       		724 
   Deferred	                          135        		190      		(175)
                                ---------     --------    --------
      Total income taxes	       $     860   		$    760  		$    549 
                                =========     ========    ========

Deferred income taxes reflect the net tax effects of temporary differences 
between the carrying amount of assets and liabilities for financial reporting
purposes and the amounts used for income tax purposes. 

Significant components of the Company's deferred tax assets and liabilities at
fiscal year ends were as follows (in thousands):

                                                 	March 31
                                             	1998      		1997
Deferred tax assets			
  Accrued compensation and benefits       	$     120 		$     160 
  Accounts receivable reserves	                  170 		       87 
  Inventory valuation and related reserves      	277 	      	286 
  Other                                          	53        		29 
                                           ---------   ---------
                                                	620       		562 
Deferred tax liabilities			
  Accounts receivable valuation                	(222)      		-- 
  Other                                         	(38)      		(15)
  Accumulated depreciation and 
     amortization	                            (2,360)   		(2,412)
                                           ---------   ---------
                                             	(2,620)   		(2,427)
			                                        ---------   ---------
Net deferred tax liability	                $  (2,000)		$  (1,865)
                                           =========   =========

A reconciliation of the statutory federal income tax rate to the Company's 
effective income tax rate is as follows:

                                              	Years Ended March 31
                                          	1998		      1997	      	1996
Statutory federal income tax rate	         34.0%		     34.0%     		34.0%
State and local income taxes, net of 
   federal income tax effect	               2.0		       1.4		       1.8
Other	                                     (1.0)      		1.0      		(1.2)
                                           ----        ----        ----
Effective income tax rate	                 35.0%     		36.4%	     	34.6%

7.   EMPLOYEE BENEFIT PLAN

The Company maintains a defined contribution plan covering substantially all 
employees. Under the Plan, employees' contributions are made on a tax deferred
basis and are partially matched by the Company. Total expense under the Plan was
$128,000, $140,000, and $114,000 for 1998, 1997 and 1996, respectively.



                                        F-9
<PAGE>
8.   SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

(in thousands)	                                  Years Ended March 31
                                            	1998		      1997	      	1996
Operating Activities:					
Interest paid, net of amount capitalized 	$    604		  $    599	 	$     610
Interest received                        	$    278  		$    236 		$     199
Income taxes paid	                        $    689		  $    310		 $   1,225
Income tax refund received                    	--   		$    229	       	--
Non-cash Investing and 
       Financing Activities:					
Capital expenditures financed by 
  capital lease obligation	                    --   		$    418	       	--

9.   CAPITAL STOCK

The Company maintains a stock option plan for key employees and has reserved 
450,000 shares of Common Stock for such plan. The options must be exercised 
within ten years from the date of grant and the exercise price must equal the 
fair market value of the Company's stock at the date of the grant. The options 
generally vest from two to five years from the date of grant.

In July 1996, the Company established an Outside Director Stock Option Plan 
and has reserved 300,000 shares of Common Stock for such plan. The options must
be exercised within three-and-a half to ten years from the date of grant and the
exercise price must equal the fair market value of the Company's stock at the 
date of the grant. The options become exercisable six months to three years 
after the grant date.

A summary of stock option activity is as follows:

                                                                  Weighted
                                                 Option Price   Average Price
                                      Shares		     Per Share      Per Share

Options outstanding at 
     March 31, 1995                  	57,000  		$12.00 - $12.50	   	$12.48
Canceled                             	(7,000) 	     	$12.50       		$12.50
                                     --------   
Options outstanding at 
     March 31, 1996                  	50,000  		$12.00 - $12.50	   	$12.48
Granted                              	66,200  	 	$5.00 - $6.75	     	$5.99
Canceled                            	(20,000)  		$6.13 - $12.50    		$9.90
                                     --------
Options outstanding at 
     March 31, 1997	                  96,200   		$5.00 - $12.50	    	$8.55
Granted	                             261,000   		$6.25 - $8.50	     	$6.98
Canceled	                            (17,000)	  	$6.13 - $12.50	   	$10.25
                                     -------
Options outstanding at 
     March 31, 1998                 	340,200   		$5.00 - $12.50	    	$7.26

There were 360,800 and 471,800 shares available for future grant under the 
plans at March 31, 1998 and 1997, respectively. The following table summarizes
significant ranges of outstanding and exercisable options at March 31, 1998:


                                        F-10
<PAGE>
<TABLE>
<C>                <C>               <C>             <C>               <C>             <C>
                                 	Options Outstanding	        	          Options Exercisable
                   --------------------------------------------     ------------------------------
                                     Weighted
                                      Average        Weighted                          Weighted
                                     Remaining        Average                           Average
   Ranges of                          Life In        Exercise                          Exercise
Exercise Prices	    Shares             Years           Price           Shares            Price 
--------------------------------------------------------------------------------------------------
$5.00 to $6.00	     10,000	            	8.3		          $5.08	          	9,500	          	$5.04
$6.01 to $7.00    	169,200	            	8.7          		$6.26	         	21,950 	          $6.18
$7.01 to $8.00     	94,000	            	9.1	          	$7.25            		--   		          --
$8.01 to $9.00	     40,000            		2.8          		$8.50	            	--  		           -- 
  over $9.00	       27,000	            	6.0	         	$12.50         		27,000	      	   $12.50
</TABLE>

The weighted average fair value per share of employee stock based compensation
issued during fiscal 1998 and 1997 was $3.90 and $4.23, respectively. There were
no options issued during fiscal 1996. The fair value was estimated using the
Black-Scholes model with the following weighted average assumptions:

                                        	1998		             1997
                                        ------             ------
           Expected life (in years)      	10		               10
           Interest rate               	6.12%            		6.65%
           Volatility                 	34.0%            		50.9%
           Dividend yield                	--		              --

Employee stock based compensation costs would have reduced pre-tax income by
$277,000, and $145,000 in 1998 and 1997, respectively, if the fair values of 
such compensation in that year had been recognized as compensation expense on a
straight-line basis over the vesting period of the grant.

Net earnings and net earnings per share would not be materially different if the
Company accounted for its outside director stock options under the fair value 
method as provided for under SFAS No. 123, Accounting for Stock-Based 
Compensation.

As permitted by SFAS No. 123, Accounting for Stock-Based Compensation, the
Company has elected to continue following the guidance of Accounting Principles 
Board (APB) Opinion No. 25, Accounting for Stock Issued to Employees, for 
measurement and recognition of stock-based transactions with employees.  
Accordingly, no compensation cost has been recognized for the Company's option 
plans.  Had the Company determined compensation cost based on the fair value at
the grant date for its stock options, consistent with the method of SFAS 
No. 123, the Company's net earnings and net earnings per share would approximate
the following pro forma amounts (in thousands except per share amounts):

                                            	Years Ended March 31
                                        	1998      		1997      		1996
Net Earnings:					
   As reported	                       $  1,597	  	$  1,329	  	$  1,038
   Pro forma	                         $  1,417  		$  1,237  		$  1,038
Basic Earnings per Share:					
   As reported                       	$    .43  		$    .36  		$    .28
   Pro forma                         	$    .38  		$    .33  		$    .28
Diluted Earnings per Share:					
   As reported	                       $    .43		  $    .36  		$    .28
   Pro forma	                         $    .38  		$    .33  		$    .28

The Company maintains an Employee Stock Purchase Plan and reserved 100,000
shares of Common Stock for such plan. Under the plan, any eligible employee 
may purchase stock at a price equal to 85% of the fair market value as of the 
last day of the option period.

                                       F-11
<PAGE>
10. EARNINGS PER SHARE

Earnings per share has been computed in accordance with the provisions of 
SFAS No. 128. The following table sets forth the computation of basic and 
diluted earnings per share (in thousands except per share amounts):
<TABLE>
<S>                                     <C>         <C>         <C>
                                             	Years Ended March 31
                                         	1998      		1997	      	1996
                                        --------------------------------
Net income	                             $ 1,597	   	$ 1,329	   	$ 1,038
Weighted average shares outstanding 
   for basic earnings per share	          3,740	      3,734		     3,727
Effect of dilutive stock options  	          12	         	4	       	--
Adjusted weighted average shares
   outstanding for diluted earnings 
   per share	                             3,752		     3,738		     3,727
Basic and diluted earnings per share   	$   .43	   	$   .36    	$   .28
</TABLE>

Options to purchase 368,200, 92,200 and 50,000 shares of common stock in fiscal
years 1998, 1997 and 1996, respectively, were not included in the computation of
diluted earnings per share because the option exercise price was not greater 
than the average market price of the stock.

11. CONTINGENCIES

The Company is involved in various claims and legal actions arising in the
normal course of business. Management, after review with its legal counsel, does
not anticipate material losses as a result of these actions.


                                       F-12
<PAGE>
                  REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS


The Board of Directors and Shareholders
Triple S Plastics, Inc.
Vicksburg, Michigan

We have audited the accompanying balance sheets of Triple S Plastics, Inc. as 
of March 31, 1998 and 1997 and the related statements of income, shareholders'
equity and cash flow for each of the three years in the period ended 
March 31, 1998. These financial statements are the responsibility of the 
Company's management. Our responsibility is to express an opinion on these 
financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing 
standards. Those standards require that we plan and perform the audit to obtain 
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by 
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in 
all material respects, the financial position of Triple S Plastics, Inc. at 
March 31, 1998 and 1997, and the results of its operations and its cash flows 
for each of the three years in the period ended March 31, 1998 in conformity 
with generally accepted accounting principles.



BDO Seidman, LLP
Kalamazoo, Michigan
April 23, 1998


                                            F-13
<PAGE>
               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS ON FINANCIAL
                                      STATEMENT SCHEDULE


The Board of Directors
Triple S Plastics, Inc.
Vicksburg, Michigan

The audits referred to in our report dated April 23, 1998 relating to the 
financial statements of Triple S Plastics, Inc. which is contained in Item 8
of this Form 10-K, included the audit of the financial statement schedule listed
in the accompanying index. This financial statement schedule is the responsi-
bility of the Company's management. Our responsibility is to express an opinion
on this financial statement schedule based upon our audits.

In our opinion such financial statement schedule presents fairly, in all 
material respects, the information set forth therein.


BDO Seidman, LLP
Kalamazoo, Michigan
April 23, 1998


                                            F-14
<PAGE>
                                   TRIPLE S PLASTICS, INC.

                      SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
<TABLE>
<S>                            <C>               <C>                 <C>                  <C>             <C>
                                                 Additions
                               Balance at        charged to          Charged                               Balance
                                beginning         costs of           against               Other          at end of
Description	                    of period         expenses           reserves             changes           period
--------------------------------------------------------------------------------------------------------------------------
Reserves and allowances 
  deducted from asset accounts:					
				
Allowance for uncollectible 
  accounts receivable:						
			
	Year ended March 31, 1998	       $255,000      		$  95,000            		--  		               --  		        $350,000

	Year ended March 31, 1997	       $250,000      		$  30,000		        $ 25,000		               --  		        $255,000

	Year ended March 31, 1996	       $160,000	       	$188,000		        $ 98,000		               --  		        $250,000

</TABLE>


                                        F-15

                                    EXHIBIT INDEX

Exhibit No.	   Description	                                                 Page
		
3(a)	          Registrant's Second Amended and Restated Articles of 
               Incorporation were filed as Exhibit 3(a) to a
               Registration Statement on Form S-1 (No. 33-74866)
               and the same is incorporated herein by reference.	
		
3(b)	          Registrant's Bylaws were filed as Exhibit 3(b) to a 
               Registration Statement on Form S-1 (No. 33-74866)
               and the same is incorporated herein by reference.	
		
4	             A specimen Form of Stock Certificate was filed as 
               Exhibit 4 to a Registration Statement on Form S-1 
               (No. 33-74866) and the same is incorporated herein 
               by reference.	
		
10(a)(1)	      A Business Loan Agreement between Registrant and 
               First of America Bank - Michigan, N.A. dated 
               November 1, 1992, and as amended December 21, 1993, 
               with respect to Registrant's Line of Credit, Secured
               Term Loan Availability, Secured End Mortgage, Real
               Estate Mortgage for Subsidiary, and Secured Term 
               Loan to subsidiary were filed as Exhibit 10(a)(1)
               to a Registration Statement on Form S-1 (No. 33-74866)
               and the same is incorporated herein by reference.	
		
10(a)(2)	      A Loan Agreement between Registrant and Michigan 
               Strategic Fund dated May 1, 1989 was filed as
               Exhibit 10(a)(2) to a Registration Statement on 
               Form S-1 (No. 33-74866) and the same is 
               incorporated herein by reference.	
		
10(a)(3)	      A Loan Agreement between Registrant and Michigan
               Strategic Fund dated September1, 1990 was filed as
               Exhibit 10(a)(3) to a Registration Statement on 
               Form S-1 (No. 33-74866) and the same is 
               incorporated herein by reference.	
		
10(a)(4)	      A Bond Purchase Agreement among Registrant, 
               Michigan Strategic Fund and Roney & Company, 
               dated September 24, 1990 was filed as 
               Exhibit 10(a)(4) to a Registration Statement on
               Form S-1 (No. 33-74866) and the same is incorporated 
               herein by reference.
	
10(a)(5)	      A Reimbursement Agreement between Registrant and 
               First of America Bank - Michigan, N.A. dated 
               November 1, 1992 backing the 1989 Michigan Strategic 
               Fund Limited Obligation Revenue Bonds was filed
               as Exhibit 10(a)(5) to a Registration Statement on
               Form S-1 (No. 33-74866) and the same is incorporated
               herein by reference.	
		
10(a)(6)	      A Reimbursement Agreement between Registrant and
               First of America Bank - Michigan, N.A. dated 
               November 1, 1992 backing the 1990 Michigan Strategic 
               Fund Limited Obligation Revenue Bonds was filed 
               as Exhibit 10(a)(6) to a Registration Statement on
               Form S-1 (No. 33-74866) and the same is incorporated 
               herein by reference.	
		
10(b)	         A Loan Guarantee Agreement and related Security
               Agreement between Subsidiary and First of 
               America Bank - Michigan, N.A. dated November 1, 1992
               was filed as Exhibit 10(b) to a Registration 
               Statement on Form S-1 (No. 33-74866) and the same is
               incorporated herein by reference.	
		
*10(d)(1)	     The Triple S Plastics, Inc. Employee Stock Option 
               Plan was filed as Exhibit 10(d)(1) to a 
               Registration Statement on Form S-1 (No. 33-74866)
               and the same is incorporated herein by reference.	

*10(d)(2)	     A Form of Nonqualified Stock Option Agreement was 
               filed as Exhibit 10(d)(2) to a Registration 
               Statement on Form S-1 (No. 33-74866) and the same
               is incorporated herein by reference.
		
*10(d)(3)	     A Form of Qualified Stock Option Agreement was 
               filed as Exhibit 10(d)(3) to a Registration
               Statement on Form S-1 (No. 33-74866) and the 
               same is incorporated herein by reference.	
		
*10(d)(4)	     An Outside Directors Stock Option Plan dated 
               July 25, 1996 was filed as Exhibit 99 to a 
               Registration Statement on Form S-8 (No. 333-20365) 
               and the same is incorporated herein by reference.	
		
10(e)	         A Form of Indemnity Agreement between Registrant
               and each of its directors was filed as Exhibit 10(e)
               to Registration Statement on Form S-1 (No. 33-74866)
               and the same is incorporated by reference.	
		
10(f)	         Lease between Triple S Plastics, Inc. and 
               Westinghouse Road Joint Venture regarding the 
               manufacturing and office building for the 
               Georgetown, Texas manufacturing facility.	
		
23	            Consent of Experts and Counsel                                 31
		
27	            Financial Data Schedule	                                       32
		
		
*Indicates a compensatory arrangement	
 
<PAGE>

                                      EXHIBIT 23




                   CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS


Triple S Plastics, Inc.
Vicksburg, Michigan


We hereby consent to the incorporation by reference in the Company's 
Registration Statements (No. 33-83214, No. 33-83212, No. 333-20365 and No. 333-
20451) of our reports dated April 23, 1998, relating to the financial statements
and schedule of Triple S Plastics, Inc. appearing in the Company's Annual Report
on Form 10-K for the year ended March 31, 1998.



BDO Seidman, LLP
Kalamazoo, Michigan
April 23, 1998