AFGL International, Inc. acquires Irene Cohen Temps.NEW YORK--(BUSINESS WIRE)--April 12, 1996--AFGL International, Inc., a leading provider of human resource management and strategic advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to the financial services industry, announced today that a definitive agreement has been signed to acquire Irene Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Temps, Inc. and affiliates, including Certified Technical Staffing, Inc., Corporate Staffing Alternatives, Inc. and Irene Cohen Personnel, Inc., a New York-based staffing services company, for an undisclosed amount. AFGL AFGL Air Force Geophysics Laboratory will finance the purchase through private debt and equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. . It is anticipated that the acquisition will be completed before the end of May 1996. "We are very excited to make our entrance into the temporary staffing industry with such a high quality firm," said Gary Goldstein, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AFGL International. "This acquisition gives us a solid presence in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of market and is a major step forward in our effort to become a national staffing company for the financial services industry." Irene Cohen Temps, Inc., founded in 1977 by Irene Cohen, chief executive officer, is a leading provider of temporary staffing services in New York. The company will operate as an AFGL subsidiary under its present management. In a continuing effort to focus on its core business of human resource management, the company is looking to make additional acquisitions of staffing service companies. "We believe that there is significant growth potential in this industry as companies look for ways to improve their efficiency," continued Goldstein. "Our ability to combine knowledge of the financial services industry with consulting and human resources expertise will enable us to offer enhanced, value-added services to our clients." AFGL International, Inc. is a leading provider of human resources and advisory services. The company's other operations are: The Whitney Group (human resource management); Furash & Company (advisory services). Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , AFGL International also has offices in Washington, D.C., London, Tokyo and Hong Kong. CONTACT: AFGL International, Inc., New York Julie Risi, 212/508-3520 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion