LG Group, Inc. Has Purchased 100% of the Stock in Crowley Chemical, Inc.
Effective January 5, 2007, LG Group, Inc. has purchased 100% of the stock in Crowley Chemical, Inc. and Crowley Tar Products, Inc. for an undisclosed price. Bill Callanan, President of IG Group, will become CEO of both companies. Bill Jennings, the previous majority owner, will remain with the companies in his current position as President. In addition, all of the key management will remain in place as the company moves forward to implement its growth strategy. LG Group is a Philadelphia area based private investment group focused on niche businesses in the chemical, oil, pharmaceutical packaging and coal tar industries.
Contact: William J. Jennings
Phone: (212) 682-1200