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Revere Industries, LLC Announces Combined, Expanded Operations
Wed, 21 Dec 2005, 15:30:00 EDT
INDIANAPOLIS, IN (SEND2PRESS NEWSWIRE) -- A. Elliott Archer, President and CEO of Revere Industries, LLC, announced today that the company has combined selected operations of four of the companies of Charter Oak Capital Partners into a single entity, which will operate as Revere Industries, LLC. The expanded company, financed through CIBC World Markets Corp., includes Metal Powder Products, Ross Aluminum, Revere Aluminum, and selected operating facilities of Titan Plastics Group.
The four companies will serve as the platforms of Revere's Powder Metallurgy, Aluminum Casting, Rolled Aluminum, and Plastic Injection Molding Divisions, respectively. Corporate headquarters for Revere will be located in Indianapolis, Indiana.
Archer stated that "The combination of these companies into a single entity provides our expanded company, our customers, our employees, and our suppliers with significant opportunities for growth and added value. Our combined purchasing power, technical expertise, and worldwide manufacturing base (including India and China) will allow us to expand our product offerings to customers, and to do so in a cost-effective manner."
"Similarly, our employees should benefit from the advantages that our significantly expanded workforce will give us in the negotiation of employee benefits from our providers. Also, our valued suppliers and other strategic partners will have additional opportunities to provide their products and services to the units of the expanded company, which will employ almost 2,000 people and will operate manufacturing facilities around the world. This organizational move provides an unparalleled opportunity for all of Revere's stakeholders to benefit from the synergism and increased energy level of the combined companies."
Archer pointed out that Revere undertook the action "to better serve global customers who require that suppliers' facilities be strategically situated in close proximity to their own worldwide operations" and also as "a strategic positioning of Revere Industries in areas of the world with demonstrated growth potential. Although some of our divisions already had international operations and facilities, this move gives the expanded company unprecedented size and scope, and significantly improves our global competitive position in many of the markets we serve."
About Revere Industries, LLC
Revere Industries, LLC is a leading manufacturer of custom-engineered, high-performance metal and plastic components for the transportation, appliance, food packaging, lawn & garden, HVAC, and other markets.
The company operates through its Plastic Injection Molding, Rolled Aluminum, Powder Metallurgy, and Aluminum Casting Divisions, each of which apply technical innovation, cost-effective manufacturing, and industry expertise to deliver value-added products to their served markets. Revere maintains manufacturing facilities in the U.S., Canada, Mexico, India, and China. Revere is a portfolio company of Charter Oak Capital Partners, LP.
NEWS SOURCE: Revere Industries, LLC
Send2Press® is the originating wire service for this story.
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REFERENCES: Revere Industries, LLC Announces Combined, Expanded Operations, Revere Industries LLC, Plastic Injection Molding, Rolled Aluminum, Powder Metallurgy, Aluminum Casting, transportation, appliance, food packaging, lawn and garden, HVAC, custom-engineered, high-performance metal and plastic components, Charter Oak Capital Partners, LP, A. Elliott Archer, Indianapolis, Indiana, Metal Powder Products, Ross Aluminum, Revere Aluminum, IN, Titan Plastics Group, CIBC World Markets Corp, Dec 21, 2005.
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