GENCO Supply Chain Solutions Announces Completion of Merger with ATC Technology Corporation
Rebrands the New Company GENCO ATC - Creates New Opportunities for Diversification and Growth
PITTSBURGH, Pa. – October 25, 2010 – GENCO Supply Chain Solutions (GENCO), a Global Top 50 third-party logistics provider, today announced the completion of its merger with ATC Technology Corporation (ATC). The combination of GENCO and ATC creates one of the industry’s largest and most innovative product life cycle third-party providers.
The newly combined company will be privately owned and rebranded under the name GENCO ATC. ATC Logistics & Electronics and ATC Drivetrain will become new divisions within GENCO ATC. GENCO ATC will have estimated annual revenue of $1.5 billion, approximately 10,000 teammates and grow to 120 operations, adding Fort Worth and Carrolton, TX, Oklahoma City, OK, Memphis, TN and Matamoros, Mexico.
The merger immediately positions GENCO ATC as the clear supply chain management leader in the consumer electronics/information technology market. Solution enhancements will be realized in transportation management; test and repair; remanufacturing; high velocity serialized fulfillment, co-packing, kitting; warehouse management systems; and product remarketing. These complimentary integrated solutions along with advanced technology and a focus on continuous productivity improvement will offer customers a significant opportunity to lower their overall supply chain costs.
Herb Shear, chairman, president and chief executive officer of GENCO ATC said, "This merger represents a significant milestone for GENCO ATC. Today, we increased the depth and breadth of our service offering and our ability to diversify into the fast-growing wireless, consumer electronics/information technology and vehicle service parts markets. We are focused on quickly capitalizing on the attractive opportunities this merger has created to deliver value to our customers and accelerate our top-line growth."
Mr. Shear continued, “Our companies share as our top priority a commitment to create value for our customers. With the merger now complete, GENCO ATC is a stronger, more broadly based company than ever before. GENCO ATC will have increased capacity to reach new markets and enhanced service offerings for current customers that deliver initial and ongoing value.”
Todd Peters, president and chief executive officer of ATC said, "We are excited about our immediate and long-term future. GENCO ATC’s prospects for growth will be enhanced further by what will unquestionably be strong demand for our product life cycle logistics solutions. Our teammates have worked diligently to place us in this position. As we look to build upon our many accomplishments, their continued fine work, tireless dedication and commitment to excellence will be the foundation for our success."
About GENCO Supply Chain Solutions
GENCO Supply Chain Solutions is a Global Top 25 third party logistics provider and the recognized leader in reverse logistics. The company manages over 112 operations and 37 million square feet of warehouse space throughout North America for a diverse range of retail, manufacturing and government customers, including many Fortune 500 companies. The company provides initial and ongoing value through a complete range of solutions, including contract logistics, transportation logistics, parcel negotiation and audits, reverse logistics, damage research, product liquidation, pharmaceutical services, government solutions and supply chain technology solutions. For more information, visit GENCO.
About ATC Technology Corporation
ATC is headquartered in Downers Grove, Illinois. ATC provides comprehensive engineered solutions for logistics and refurbishment services to the consumer electronics industries and the light-, medium- and heavy-duty vehicle service parts markets.