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CLOVER ACQUIRES LEADING EUROPEAN REMANUFACTURER TRS GROUP
CHICAGO, IL (August , 2011) – Today, Clover Holdings, Inc., the world’s leading provider of vertically integrated, closed-loop environmental solutions, announced the acquisition of TRS Group. Founded in 1988, TRS has established a strong position in Europe promoting high quality products and services to a wide range of customers. The addition of TRS AG, with facilities in Switzerland and Germany; TRS Swiss, with manufacturing in Serbia; and Sakaar Printing Design and Engineering, located in India, will greatly enhance the manufacturing and sales capabilities of the Clover Technologies Group in Europe, while also providing additional resources to continue our expansion in to Eastern Europe.
TRS’ growth in the last 5 years compliments Clover Europe’s and will enable more complete and comprehensive coverage of all European countries by leveraging the strengths of each company. TRS Swiss manufacturing in Serbia gives Clover increased flexibility to bring products to market quickly and more efficiently where short lead times are important, while maintaining a low cost base.
Clover now employs over 800 staff in Europe making it the largest European-based remanufacturing company.“We are particularly excited about this acquisition because it fits perfectly into our strategy of being the global leader in remanufactured imaging supplies,” says Mark Perry, Managing Director of Clover Technologies Group Europe. Perry goes on to say, “Clover and TRS share the same strategy of offering high quality remanufactured laser cartridges but operate in different geographies so there is no customer overlap. In addition, Clover and TRS focus on remanufactured color laser supplies which are the fastest growing segment of the imaging supplies industry.”
Clover also brings Saakar Printing Design & Engineering into the enterprise as part of the TRS Group. Saakar was established in 2009 to remanufacture supplies for the Indian marketplace. Clover will develop this resource to extend a wider range of products and support to customers located within India and the Middle East. Clover is committed to continuing to invest long term to be the global leader in vertically integrated, closed loop environmental solutions as evidenced by the investments in West Point, ERS, Pinpoint, Wireless Source, Reclaim IT, Depot America, OPRA, and TRS all since April 2010. Clover Technologies Group in Europe and TRS Group will continue to operate independently in their respective markets but will work together to leverage potential synergies. This partnership will provide greater coverage and focus on specific markets in Europe and provide the best quality and support while maximizing distribution capabilities for even greater product availability throughout Europe.
About Clover Holdings, Inc.
Clover Holdings, Inc. is the global leader in providing vertically integrated, closed-loop environmental solutions, including the recycling and remanufacturing of imaging supplies. Founded in 1996 and with an annual revenue of over $600 million, Clover is one of the fastest growing, privately held companies in the United States. Clover is also the world’s largest collector and recycler of empty ink and toner cartridges in the aftermarket imaging supplies industry and provides comprehensive recycling services for small electronics including cell phones. The complete line of Clover’s quality imaging supplies is available through industry leading resellers and wholesalers and marketed under a variety of private label brands. To learn more, visit http://www.clovertech.com.About TRS Group
TRS AG was founded in 1988 and is one of the world’s leading remanufacturers of alternative print consumables. TRS produces high quality laser toner industrially and independently while protecting the environment by utilizing existing resources. TRS became the industry leader in Switzerland with its “Silver Reed” brand. Subsequently, it has successfully established itself in the European market. In 2006, production and development were relocated to Serbia (Novi Sad). Production based on high Swiss quality standards and under Swiss leadership has continuously expanded. These high quality standards are regularly certified by independent testing institutes, and also by ISO 9001 and ASTM (American Society for Testing Materials). TRS AG employs more than 400 people throughout Europe and is among the top 5 worldwide producers of alternative laser toner.
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