Avangard, Innovative Commodities Group to merge.Avangard Industries Ltd. and Innovative Commodities Group (ICG ICG indocyanine green. ), two Hispanic-owned plastics recycling, processing and trading companies based in Houston, have announced that they will merge to form Avangard Innovative. The companies have not disclosed the terms of the deal. The new company, to be based in Houston, will provide recycling services, commodity trading and plastic material processing as well as environmental impact studies to corporations and municipalities. The companies will begin integrating their operations during the fourth quarter of 2006, with Avangard Innovative's formal operations beginning Jan. 1, 2007. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a press release, Avangard Innovative incorporates the strength of Avangard's position in the post-consumer market with ICG's post-industrial recycling programs to provide greater supply and sales opportunities around the world. The company will have service concentrations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Central America Central America, narrow, southernmost region (c.202,200 sq mi/523,698 sq km) of North America, linked to South America at Colombia. It separates the Caribbean from the Pacific. , South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , China and India. "The new company, Avangard Innovative, will allow us to provide a stronger global reach, as well as improved market fulfillment both nationally and internationally," Rick Perez, 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. and principal of ICG, says. When the merger is complete, Perez will serve as chief executive officer of Avangard Innovative. "Some of the strongest growth in the industry is currently in Latin America," Arturo Creixell, CEO and principal of Avangard Industries, says. "By merging, we will be in a position to take maximum advantage of the developing Latin America market." He continues, "The impact of the merger will greatly benefit our current and future customers and vendors through increased consistency of volume availability, higher quality controls and enhanced customer service throughout the sales and service transaction cycle." Creixell will serve as chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Avangard Innovative. Upon completion of the merger, the company will operate 19 processing plants and 20 branch offices, with 1,200 employees worldwide. |
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