Companies to form Avangard Innovative.
Avangard Industries Ltd. and Innovative Commodities Group (ICG), two plastics recycling, processing and trading companies based in Houston, have merged to form Avangard Innovative.
The new company, based in Houston, will provide recycling services, commodity trading, plastic material processing and environmental impact studies. The companies will begin integrating their operations in the fourth quarter of 2006, with formal operations of the merged company beginning Jan. 1, 2007.
According to 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, with service concentrations in North America, Central America, South America, 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 and principal of ICG, says. When the merger is complete, Perez will serve as CEO 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. (Creixell will become COO of Avangard Innovative.) “By merging, we will be in a position to take maximum advantage of the developing Latin America market.”
Creixell adds, “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.”
Avangard Innovative will have 19 processing plants and 20 branch offices. The company will employ 1,200 people.