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LEKINC AND TRI TECH LABORATORIES JOIN FORCES
– New entity becomes one of North America’s largest independent manufacturers of personal care product solutions –
Québec, Canada Thursday, January 4, 2007 – LEKINC, a leader in personal care product solutions through its owner Knowlton Development Corporation and major shareholder Novacap, announced today that it has reached an amalgamation agreement (“The transaction”) with Lynchburg, Virginia based Tri Tech Laboratories, Inc. (“Tri Tech”). The transaction, which also includes institutional funding from The Solidarity Fund QFL, Capital Régional et Coopératif Desjardins and Fondaction, will enable the two companies to seamlessly join forces to form a single, industry-leading business entity in the North American personal care industry.
The two companies plan to grow by sharing respective strengths in such areas as technology, engineering, supply chain operations excellence and product innovation, thereby enhancing the ability to meet evolving customer and industry demands. The new entity will thus be positioned to expand its business with existing customers and add new, targeted customers, further bolstering its position as one of North America’s largest independent manufacturers of personal care product solutions.
The fast-paced business evolution of personal care product manufacturing requires partnerships between industry leaders with complementary strengths, in order to maintain a competitive edge. The current Tri Tech shareholders and key management team members remain on board and are shareholders in the new entity. Employees of both organizations, at every level, will play a major role in the coming months as this new entity evolves and strives to optimize its synergies in manufacturing best practices and in product innovation in order to offer significant value to its current and future customer base.
A new leading group
The new leading group will operate from three facilities located in Lynchburg, Virginia, Toronto, Ontario and Knowlton, Quebec. The new leading group core competencies are comprised of manufacturing operations in a broad spectrum, product innovation, and logistics excellence in the personal care product industry and will service more than seventy-five (75) customers, including several industry leaders and Fortune 500 companies.
For more information please visit www.lekinc.com and www.tritechlabs.com www.tritechlabs.com
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