CG Industries Corporate Identity Renamed “CoreCentric Solutions”

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July 28, 2010

CG Industries Corporate Identity Renamed “CoreCentric Solutions”

FOR IMMEDIATE RELEASE

MEDIA CONTACT:
Donna Barbic: 630-216-5050

Glendale Heights, ILLINOIS (July 28, 2010) – CG Industries, Ltd., the leader in the remanufacture of electronic controls, announced today the company will be renamed CoreCentric Solutions, Inc., effective August 2, 2010.

The name change reflects the company’s greater focus on the repair and remanufacture of electronic controls and electro-mechanical parts for major appliances, fitness equipment and HVAC products.

The privately-held company provides customized product lifecycle management and remanufacturing solutions to some of the largest U.S. retailers and major appliance manufacturers in the world. The company remanufactures parts for such leading consumer brands as Bosch®, Dacor®, Electrolux®, GE®, Jenn-Air®, Kenmore®, KitchenAid®, LG®, Maytag®, NordicTrack®, Proform®, Thermador® and Whirlpool®.

“Our remanufacturing business has expanded so much during the past 15 years, it is fitting that our overall corporate identity change to reflect these new and exciting service offerings,” explains Badal Wadia, president and CEO of CoreCentric Solutions.

In addition to the economic savings that accompany remanufactured products – roughly 30% to 50% less than new components – Wadia notes that manufacturers also reduce environmental waste and improve quality.

“Refurbished parts are often better than new components because they incorporate the latest technical upgrades and undergo exhaustive quality testing,” says Wadia, an electrical engineer and company co-founder.

EXPANDED CAPACITY, SERVICES

While the corporate brand name will change, the company’s remanufacturing, after-market service solutions, and management teams remain unchanged.

“CoreCentric Solutions helps major household brands take a smarter approach to remanufacturing,” says Donna Barbic, VP of Sales. “Looking forward, we see many opportunities to broaden our value-added service to new markets and industries.”

In addition to remanufacturing electronic controls such as power boards, micro- controllers and motor controllers, Wadia notes that demand for refurbished electro-mechanical devices is rising.

“Beyond our White Goods core business, we are experiencing an increase in requests for remanufactured components for the consumer electronic, HVAC, lighting, automotive and telecommunications industries,” explains Wadia, who notes that the company has also expanded its logistics services to support client’s supply chains.

The company has two facilities located just outside of Chicago, as well as a wholly owned global engineering subsidiary located in India.

REMANUFACTURING FACTS:

  • Job Creation. For every one manufacturing job, three to five remanufacturing jobs are created.
  • Recycling. The remanufacturing process conserves 85% of the material and energy used to create new products.
  • Energy Savings. Remanufacturing saves 400 trillion BTUs of energy annually, equivalent to ten 500-megawatt coal fired electricity plants.
  • Environmental. The remanufacturing process keeps 28 million tons of carbon dioxide from being released into the environment every year.

ABOUT CORECENTRIC SOLUTIONS

Founded in 1995, CoreCentric Solutions has become a leader in Reverse Logistics Supply Chain Service Solutions. From its headquarters just outside Chicago, CoreCentric Solutions provides customized product and part lifecycle management and remanufacturing solutions to some of the largest U.S. retailers and the world’s major appliance manufacturers. The company is dedicated to partnering with its customers to provide the highest quality remanufactured parts and innovative value added sustainable service and logistics solutions available. For more information, visit us at www.CoreCentricSolutions.com.

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