Danvers, Massachusetts, December 15, 2006 - TÜV SÜD America Inc., a global testing and certification services firm, announces the acquisition of PetroChem Inspection Services, Inc., a provider of Non-Destructive Examination and Testing services (NDE/NDT) for the petrochemical and other process-related industries.
"The strategic acquisition of PetroChem, with its nearly 400 highly skilled employees, expands our inspection know-how, depth of services and the customer base of TÜV SÜD Americas Industry Service Division," stated Stefan P. Butz, CEO, TÜV SÜD America Inc. "PetroChem complements TÜVs Industry Division, which provides engineering, construction and repair services for the power and process industry as well as pressure equipment certification services. Combined, the division will significantly grow our organization and core competencies to provide our clients a greater depth of services."
"The synergy potential created between TÜV SÜD America and PetroChem provides real value for our clients," stated Robert Burns, President, PetroChem. "This acquisition positions PetroChem to expand our advanced inspection technologies and supplement those with existing engineering capabilities through the TÜV SÜD network of companies, servicing the needs of our clients both domestically and internationally. This enables us to make the step from an inspection provider to a true value adding technical partner for our customers."
Terms of the agreement are undisclosed.
About TÜV SÜD America Inc.
TÜV SÜD America Inc., a subsidiary of TÜV SÜD AG, Munich, Germany, is a leading globally recognized testing and certification organization. TÜVs Industry Division offers a full suite of consulting, third-party inspection, testing & certification, training and Notified Body services for pressure equipment manufacturers and materials producers exporting products to the European Community. Additionally, TÜV SÜD Industry Service, Inc., the steam generation equipment engineering and service group, provides a full scope of engineering, construction and repair services for the power and process industries. For more information, visit www.TUVamerica.com.
About PetroChem Inspection Services
PetroChem Inspection services, Inc. has been synonymous with quality inspection services in the refining and petrochemical industries for over 30 years. As a provider of visual inspection, both on-stream and turnaround, PetroChem is one of the largest employers of API Inspectors in the United States. In addition to inspection capabilities, PetroChem provides comprehensive traditional non-destructive testing such as ultrasonic, magnetic particle, radiographic, and eddy current. For more information, please visit www.petrochemintl.com
For more information contact:
Stefan P. Butz
TÜV SÜD America Inc.
PetroChem Inspection Services, Inc.
For editorial information contact:
Mark B. Romanowski
TÜV SÜD America Inc.