Avangard Industries and Innovative
Commodities Group form Avangard Innovative
Avangard Industries, LTD and Innovative Commodities
Group (ICG), announced the merger of the two companies into the
newly formed Avangard Innovative.
The primary focus of the new Houston-based company
will be to provide recycling services, commodities trading, plastic
material processing and environmental impact studies and education.
Planning and integration of Avangard Industries
and ICG will begin in the fourth quarter of 2006 culminating with
formal operations of the merged company commencing on January 1,
2007.
The newly formed Avangard Innovative will provide
larger processing capacity, complete recycling programs and closed
loop recycling services worldwide with service concentrations in
North America, Mexico, Central America, South America, China and
India,
First year sales revenues for Avangard Innovative
are forecast to be $100 million. The combined Avangard Industries
and ICG group will include 19 processing plants and 20 branch offices,
with an employment of 1200 worldwide. |
