New Haven, Connecticut - American Green Group Inc. (AGG) has completed its acquisition of Paradigm Polymers, a developer and marketer of bio-based products, for $500 000 in a combination in cash and stock, the company said recently.
AGG will pay $50 000 on or before 15 Jan 2009 and issue $450 000 worth of stock, the statement said. Paradigm currently generates $1.5 million in revenue through its sole salesman, Gary Gray, with earnings accounting for around 15 percent of that figure. Gray said additional sales people could help revenue grow to over $5 million in 2009.
Paradigm Polymers finds and brings to market new bio-based products. These include lightweight soya-based Spray Insuloy Polyurethane Formula, the first soya-based boardstock line, and the first bio-based thermal shipping container.