Frank Merenda

CPI Appraisals provides appraisals of complex industrial equipment to the Chemical Process and related industries, including power generation, steel and aluminum production, tank farms and natural gas and other pipelines and transmission equipment. With nearly 15 years' experience as an appraiser, and 30 years' experience as an engineer and business manager in industry, we can provide accurate, defensible appraisals of equipment to meet industry needs. The primary reasons operators need equipment appraisals for their operating plants: --Insurance Placement. We have worked with the largest insurance carriers to provide Insurable Replacement Costs for complex plants, including Ammonia, PP, PE, PS and other specialty plants --Ad Valorem Taxes. We have provided defensible appraisals of equipment subject to personal property tax in the 30+ US states that have implemented the taxes on all personal assets. We have defended the appraisals in one-to-one meetings with government appraisers, and in court. --Purchase Price Allocation--Upon the transfer of ownership of assets, an allocation of the purchase price is required in accordance with ASC 805. We have completed these appraisals throughout North America, South America, Asia and Europe

Responsible for Business and Equity Valuation and Appraisals of Machinery & Equipment, Intangible Assets, and Commercial & Industrial Real Estate for Sobel Valuations LLC, a unit of SobelCo, LLC. EAC Valuations LLC joined with SobelCo on May 1, 2018. Our Forensics and Valuation Services (FVS) group also provides full forensic accounting services and Commercial and Shareholder Damages reports.

EAC Valuations, LLC is the successor company to Enterprise Appraisal Company. Our skill set has increased to include the valuation of qualified Trust and Family Limited Partnerships for estate planning. Our staff of 10+ includes commercial and industrial real estate appraisers, certified machinery & equipment valuators, and business valuation specialists, who are also engineers and former business managers. We continue to offer Real Estate and Personal Property appraisals for purchase price allocation, ad valorem taxes, insurance, financing, and corporate planning. Business valuations are utilized in gift/estate planning and settlement, deferred compensation, buy/sell agreements and other corporate needs.

Enterprise Appraisal Company, provides valuations of machinery & equipment, intangible assets, industrial and commercial real estate, and underlying stock valuation of business units or privately held corporations. The company has been providing services to Fortune 1000 companies and small business owners for more than 40 years. Based near Valley Forge, PA, we have appraised properties in all 50 US states, Canada, Mexico, South America, Europe and Asia. We specialize in manufacturing entities. Our appraisals are used for financial reporting, M&A, insurance placement, corporate planning, and local and federal tax issues. Please visit our web-site at www.enterpriseappraisal.com

Provide assistance to small business owners (sales $1 million to $10 million) to transfer business entities. We focus on manufacturing companies in Pennsylvania, New Jersey, Delaware and Maryland.

Full P&L responsibility for Rhodia's North American precipitated silica business. Member of the "Board of Directors" for nearly $300 million enterprise. Also responsible for new business development globally, allowing the enterprise to approach their targeted 25% sales of 5 year old or less products

Located in Frankfurt, Germany, responsible for Business Development and Marketing for Degussa's Zeolites and Catalysts Division

Responsible for introducing Eastern German manufactured catalyst products to North and South America, with an opportunity for ownership of the company after commercialization. Venture was ended due to political disagreements between the managing partner and the German government

P&L responsibility for Met-Pro's Systems Division (Sales <$10 million), a manufacturer of air and water pollution control equipment. Two manufacturing sites, 40 employees

Responsible for building a new catalyst business for PQ, utilizing silica chemistry. Efforts resulted in the construction of a world class manufacturing facility in Kansas City

Responsible for worldwide technical service organization serving precious metal refining and chemical catalysts. Previously, responsible for licensed processes for application in the nitrogen fertilizer business, initially for North America, later worldwide

Also received BS in Chemical Engineering and BA in Business Administration from Rutgers in 1978.