LONDON (CNI) - US firm Haas has acquired the total
chemical management (TCM) business of compatriot Radian and merged
with it to form Haas TCM.
Financial details of the deal were not disclosed.
Both firms had entered the chemical management services
(CMS) business through different markets; Haas through the automotive
industry and Radian through the aerospace and defense industries.
Each development competencies in different yet complimentary
components of the chemical cycle; Haas in chemical usage and waste
reduction and Radian TCM in procurement, logistics and EHS (environmental
health and safety) compliance.
Thad Fortin, chief executive of West Chester, Pennsylvania
headquartered Haas TCM, said: “It’s the fit of our two
companies that really underscores our excitement. The synergies
are incredible and combined resources give us state-of-the-art tools
the scale to set new standards in the rapidly growing CMS business.”
Haas TCM has over 250 employees and annual revenues
of $100 m (Euro 102m).