NEW YORK, Jan. 11 "I am pleased to announce that Haas TCMInc. and its subsidiaries, Kemfast Aerospace Group, Ltd. and Kemfast, Ltd(collectively Kemfast) and its MC Technologies division have combined with anaffiliate of The Jordan Company, L.P. to form Haas TCM Group Inc. ICMSHoldings, Inc. (d/b/a Avchem, Inc.), an existing portfolio company of Jordan,will be integrated with Haas TCM Group Inc. The focus of these businesses isto provide chemical management services on a global basis to a wide range ofindustries including aerospace, automotive, electronics, health care and othermarkets, as well to government agencies such as the U.S. Defense LogisticsAgency," stated Dean M. Willard, Chairman of the Board of Haas TCM Group Inc.
The combined businesses achieved revenues of approximately $300 million in2007 and create the largest global provider of chemical management services.Haas TCM Group Inc. currently operates in 15 countries throughout the worldand plans to expand its global footprint to meet the needs of its customers.
"We are very excited to become a portfolio company of The Jordan Company.The formation of Haas TCM Group Inc. is consistent with our strategy to growin chemical management services. We also look forward to integrating Avcheminto Haas TCM Group Inc. We will have greater access to capital which willenable us to expand our global footprint and service offerings," stated ThadFortin, Chief Executive Officer of Haas TMC Group Inc.
Haas TCM Inc. (http://www.haastcm.com) is headquartered in West Chester,Pennsylvania USA. Kemfast (http://www.kemfast.com) is headquartered inRingwood, United Kingdom and MC Technologies (http://www.maxcomonline.com) isbased in Tucson, Arizona, USA. They currently provide chemical lifecyclemanagement services to over 250 customer locations in the US, Canada, Mexico,Argentina, Brazil, Ireland, United Kingdom, France, Netherlands, Poland,Romania, Italy, Turkey, Israel, and China. Current customers are in theautomotive, aerospace, electronic, government, semiconductor, defense,transportation, industrial manufacturing, food and beverage, healthcare,process and energy sectors.
Mark Reighard, Chief Executive Officer of Avchem, will continue to focushis team's primary attention on the aerospace industry. "The Avchem team isvery excited to become part of Haas TCM Group," stated Reighard. "We feel thatthe resources and support we have obtained as an affiliate of The JordanCompany have been very important to our development over the past two yearsand by bringing Haas and Kemfast together with Avchem, we see ourcollaboration with Jordan becoming even more vital going forward."
Avchem (http://www.avchem.com) enables its customers to outsource theprocess associated with obtaining, handling, tracking, and disposing ofchemical products and other regulated materials. The company primarilyservices the aerospace industry where numerous products such as paints,primers, sealants, adhesives, cleaners, solvents, and lubricants are used inthe manufacturing and maintenance of aircrafts. Avchem is headquartered in St.Louis, Missouri, USA.
"We view chemical management as a vital component of global industrialgrowth in the coming decades," said Jeb Boucher, Managing Principal of Jordan."Chemicals are essential components of virtually every industrial process --almost always incorporated into the final product and yet very seldom a corecapability of the user. A growing list of industrial companies, governmentagencies and other users of chemical products are recognizing the benefits ofoutsourcing the procurement, management and disposition of chemicals tocompanies such as Haas TCM Group where chemicals are, in fact, core."
The Jordan Company, L.P. is a private investment firm specializing inbuying and operating businesses in partnership with management. Jordan and itspartners and their affiliated enti