Cerplex announces purchase of Modcomp from AEG Daimler-Benz.TUSTIN, Calif.--(BUSINESS WIRE)--April 11, 1996--The Cerplex Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPLX), Thursday announced the acquisition of the remaining 51% portion of Modcomp/Cerplex L.P. (MODCOMP MODCOMP Modular Computer Systems ). Modcomp is a joint venture partnership formed in December 1994 between Cerplex and Modular Computer Systems Inc., an affiliate of AEG AEG Aeger (Latin: Sick) AEG Allgemeine Elektrizitäts-Gesellschaft (Common Electricity Company) AEG Aircraft Evaluation Group AEG Association of Engineering Geologists AEG Air Expeditionary Group Daimler-Benz Industrie. At the original time of purchase, a subsidiary of Cerplex acquired a 49% interest in Modcomp. Modcomp, in turn, acquired substantially all of the business of Modular Computer Systems Inc. The acquisition of the remaining 51% was consummated con·sum·mate tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates 1. a. To bring to completion or fruition; conclude: consummate a business transaction. b. substantially in accordance with the terms of a pre-existing agreement between both parties. Modcomp is a worldwide supplier of real-time computer systems, products and services for the process control industry. Modcomp's business includes manufacturing, custom engineering and integration, as well as maintenance, service and repair of computer systems. Sales for Modcomp in 1995 were $38,223,000, up 15.75% from 1994. Approximately 60% of Modcomp's business is international with operations in Germany, France, England, Venezuela and Canada. Modcomp's headquarters is located at 1650 W. McNab Road, P.O. Box 6099, Ft. Lauderdale, Fla. 33309-1088. The company's Web address is http://www.modcomp.com. Cerplex is a leading independent provider of service outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. , including repair, logistics, parts, remarketing, training and help desk. The company has developed extensive capabilities in these areas, focusing on the computer and peripherals, telecommunications and office automation markets. Cerplex offers custom developed programs to customers that help to reduce their service costs, shorten response times and improve customer satisfaction. The company's headquarters is located in Tustin, Calif., with service facilities throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe. CONTACT: The Cerplex Group Inc. Ray Robidoux, 714/258-5644 rrobidou@cerplex.com or Shafer Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Linda Waters/Sheryl Smith, 800/503-1177 lw1@shafer.usa.com ss1@shafer.usa.com |
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