WorldCrest Acquires Strategic Chemical Management Group.Business Editors ATLANTA--(BUSINESS WIRE)--Nov. 14, 2000 SCMG SCMG SCCP Management (ANSI) SCMG Signaling Connection Management (ITI) Division of WorldCrest Rounds Out Chemical Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. Solution for Energy Industry Procurement services firm WorldCrest today announced at the Power-Gen International conference in Orlando, Fla., the acquisition of Strategic Chemical Management Group (SCMG), a chemical life-cycle management company. WorldCrest helps member companies reduce total costs for indirect goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. through procurement solutions that combine strategic sourcing expertise, aggregated purchasing, catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. management and e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. connectivity. SCMG currently partners with world-class chemical suppliers such as Dow (Direct OverWrite) See magneto-optic disk. and Exxon to provide chemical management solutions for leading utilities such as Con Edison, Florida Power Corp., and Southern California Edison Southern California Edison (or SCE Corp), the largest subsidiary of Edison International (NYSE: EIX), is the primary electricity supply company for much of Southern California. It provides 11 million people with electricity. . The SCMG division of WorldCrest now offers electric utilities and energy companies a complete procurement solution for indirect goods and services. WorldCrest's Chief Executive Officer Wally wally Noun pl -lies Brit slang a stupid or foolish person [from the name Walter] Noun 1. Buran bu·ran n. A violent windstorm of the Eurasian steppes, accompanied in summer by dust and in winter by snow. [Russian, probably from Tatar.] said, "The addition of SCMG's chemical management expertise dramatically strengthens the WorldCrest procurement solution. SCMG has strong relationships with leading chemical suppliers and deep expertise with chemical products and associated safety and management services. The acquisition enables us to provide procurement and life-cycle management services to reduce costs for any utility." "In addition, with SCMG joining WorldCrest, we now offer SCMG's traditional utility clients access to a broad spectrum of savings opportunities across indirect spending areas. Similarly, our existing members outside the utility industry now have access to the world-class expertise of the SCMG team and have an opportunity to make better chemical buying decisions and reduce total life-cycle chemical costs," said Buran. With customers that outsource part or all chemical procurement management, SCMG functions as an extension of an energy company's internal procurement team by developing alliances with chemicals and materials suppliers. This solution reduces the total cost of chemical procurement through lower pricing and savings in transportation, storage, removal, staffing, and related chemical management issues. "Our procurement solution is the result of our partnerships with world-class chemical suppliers such as Van Waters and Rogers, Ellis and Everhard and Equilon, and our team's many years of industry expertise," said Anita Neidert, co-founder of SCMG and newly appointed vice president of chemical markets with WorldCrest. "With SCMG as a division of WorldCrest, member companies will realize a clear benefit in the procurement of all their non-core goods and services." "From procurement to transportation, to supplier efficiencies, SCMG provides us with a complete chemical life-cycle management solution that helps us reduce total costs," said Al Wassler, Vice President at Con Edison. Backed by Kohlberg Kravis Roberts Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late-stage leveraged buyouts. It was founded in 1976 by Jerome Kohlberg, Jr., and cousins Henry Kravis and George R. & Co., WorldCrest has developed the WorldCrest Commerce Engine, a Web-enabled procurement solution that includes electronic procurement support features. The company is currently able to quickly integrate members operating in any traditional or advanced procurement environment. Members can use their legacy purchasing systems, e-procurement systems or even an Internet browser See Web browser. to access and integrate with the WorldCrest Commerce Engine. WorldCrest's Commerce Engine also allows member companies to easily access attractively priced, strategically sourced suppliers without the requirement of significant capital investments, proprietary software, or high front-end entry costs. About WorldCrest Group Headquartered in Atlanta, Ga., WorldCrest is a procurement services firm that helps member companies reduce total costs for indirect goods and services. Through WorldCrest's innovative business model, members benefit from strategic sourcing expertise, catalog management services and cost effective e-commerce connectivity. WorldCrest also has developed a network of global suppliers that benefit from immediate access to the company's entire member base. WorldCrest is majority funded by Kohlberg Kravis Roberts & Co. For more information on WorldCrest and its products and services please visit www.worldcrest.com . |
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