Jack Klimp, president of the Gas Appliance Manufacturers Association (GAMA), says GAMA and the Air Conditioning Refrigeration Institute (ARI) continue to explore details related to a proposed merger of the two HVACR manufacturer association.
"GAMA and ARI have quickly moved forward with our legal and financial due diligence efforts in preparation for a possible consolidation of the two associations into a new organization.Our law firm and auditors intend to have their legal and financial due diligence audits completed and to us by Nov 2, 2007," Klimp writes, in an email to GAMA members on October 19.
Klimp says various "transaction committees" have met and submitted their reports recommending best practices for the new association, and none have found any difficulty that would hinder or in any way block a combination of the two associations.
GAMA and ARI have jointly hired a firm to produce both a name and a logo for the proposed new outfit.
"We are simultaneously conducting a campaign to confirm the accuracy of our MemberMax data base in preparation for balloting our membership on the proposed consolidation," says Klimp, and requests all companies who have not done so to update their company’s delegate and other data please do so as soon as possible.
Barring any unforeseen challenges, the proposed consolidation will be reviewed and voted upon by ARI’s Board of Directors on Nov 11, 2007 during their Annual Meeting.
According to Klimp, a board of directors teleconference will be held on November 12,to consider the proposal.
"If the two boards vote to continue to move forward we will send your company an information package and voting proxy form within a day or two of the board meetings," Klimp says.
The plan is to have the members complete their voting on the proposed consolidation in December. If approved by the GAMA and ARI memberships, the consolidation of the two associations into a new entity would take effect February 1st or March 1st 2008.