<p>What are my options when it comes to implementing page compression is asp.net.Right now I have a custom home grown httpmodule and its not very mature.</p>

<p><strike>Google links me to <a href="http://www.codeplex.com/MbCompression" rel="nofollow noreferrer">MbCompression</a>. The project has few views and downloads which discourages me a bit.</strike></p>

<p>Edit: I am under shared hosting, which limits my access to IIS settings</p>

There are companies which will translate resource files in the standard formats for fees; I think that's how most large companies do it.
I asked a similar question recently
here
about the best way to structure code in a project to support this, with my additional desire to preserve the readable strings in code. This is not standard, though... usually you would put all the string resources into a separate file and refer to them by ID in the code, and have the file translated.
See .rc files for Windows C++, .resx files for .NET, not sure what exists for Linux/Mac/other, but I'm sure there are equivalents.