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D. GEORGE HARRIS & ASSOCIATES ANNOUNCES MERGER OF PCR GROUP AND THORCHEM INTERNATIONAL, INC.

 NEW YORK, Jan. 18 /PRNewswire/ -- D. George Harris & Associates (DGH&A) and Jacksonville, Fla.-headquartered PCR Group, Inc. (PCR), a manufacturer of specialty silane and fluorine compounds used by the construction, silicone, pharmaceutical and electronics industries, announced today that they have reached an agreement under which PCR will merge with Thorchem International, Inc. Terms of the merger were not disclosed.
 The privately held company, which will operate as Thorchem International, Inc., will provide a wide range of specialty chemicals and materials to the construction industry. Thorchem will combine the businesses of PCR, Inc. and Hydrozo, Inc. (both units of PCR Group, Inc.) and Miami-based Thoro System Products, a unit of Zeneca Specialties (which is also being acquired under DGH&A sponsorship).
 D. George Harris will assume the post of chairman of the board and chief executive officer, and Arthur C. Wotiz, president and chief executive officer of PCR, will become Thorchem's president and chief operating officer.
 "We were attracted to PCR because of its sophisticated technology, as well as its commitment to safety and environmental protection," said Harris. "The merger of PCR and Thorchem creates a profitable niche business which we expect to expand through this decade as the world's infrastructure continues to require new construction and repair," Harris said. "In addition, the new company's worldwide operations and distribution network will enable us to easily serve customers in both economically established and developing parts of the world."
 Thorchem International will have facilities in both the United States and Europe. PCR has operations in Jacksonville and Gainesville, Florida; Lincoln, Nebraska, and Humacao, Puerto Rico. Thoro System Products has four locations in the United States -- Miami; Bristol, Pennsylvania; Centerville, Indiana and Newark, California -- as well as facilities in Belgium, England, France, Italy and Spain.
 "I'm looking forward to helping build a significant specialty construction chemicals company," noted Wotiz. "I am pleased PCR will provide Thorchem with important raw materials and product development capability, while also presenting the company with exciting growth opportunities outside the construction industry."
 Arthur C. Wotiz led a leveraged buyout of PCR from SCM Corporation in 1987. Prior to that, he was vice president and general manager of SCM Specialty Chemicals. Wotiz has also worked at GE's Silicone Products Division and Monsanto.
 D. George Harris is an international chemical industry executive, who, in addition to heading D. George Harris & Associates, is also chairman and CEO of the recently formed Harris Chemical Group. He is a past president of SCM Corporation, a diversified manufacturing company; SCM Chemicals, an organic and inorganic chemicals operation and Rhone Poulenc, Inc., SA, the U.S. subsidiary of France's largest chemical concern.
 Thorchem International will manufacture and market specialty products used to waterproof, restore, protect and maintain buildings, bridges and other structures. Its principal products are sold under the trademarks THOROSEAL, UCRETE, THOROCOAT, THOROWALL, WATERPLUG, ENVIROSEAL, and JEENE STRUCTURAL SEALING SYSTEM. The company will have approximately 500 employees worldwide.
 D. George Harris & Associates is a New York-based industrial management and advisory company involved primarily in management buyouts in the international chemical industry.
 -0- 1/18/94
 /CONTACT: Art Wotiz of PCR Group, 904-730-2701; or David Allan or William Foster of Burson-Marsteller, 212-614-5163 or 212-614-4083/


CO: D. George Harris & Associates; PCR Group; Thorchem
 International, Inc. ST: Florida, New York IN: CHM SU: TNM


JG-PS -- NY095 -- 2901 01/18/94 15:52 EST
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Publication:PR Newswire
Date:Jan 18, 1994
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