Regulatory compliance boost for CBA members
The Chemical Business Association (CBA) has expanded its regulatory services with the acquisition of ReFaC — the REACH Facilitation Company.
ReFaC was formed in June 2006 to provide cost-effective REACH compliance services for CBA member companies. The CBA’s acquisition of the company, for an undisclosed sum, was completed last month.
Since being launched, ReFaC has established a client-list that includes non-CBA member companies, many of which are located overseas. ReFaC’s specialist staff are unaffected by the acquisition and will continue to be based at the CBA’s offices in Crewe.
Dr Neville Prior, CBA president and chairman of the new ReFaC board of directors, said: “The acquisition makes strategic sense for CBA. As a specialist subsidiary company, ReFaC further develops the CBA brand and underlines the Association’s long-term commitment to minimising the cost of regulatory compliance.
“RefaC also provides a new and significant income stream for CBA. Current and new CBA member companies will be entitled to a 15-per-cent discount on ReFaC fees.”
ReFaC chair Mike Smith added: “This acquisition by CBA is an evolutionary step for ReFaC, which allows it to continue to grow its portfolio of compliance services and its customer base.
“Importantly, the acquisition provides ReFaC’s existing clients with a seamless transition in terms of regulatory compliance services.”
The new board is: Dr Neville Prior, chairman; Peter Newport, managing director and company secretary; Andrew Mitchell, finance director; and Reg Warren, director.