SGS Acquires FTS Inc
SGS, the world leader in Inspection, Verification, Testing and Certification, is pleased to announce the acquisition of FTS Inc. in Bartlesville OK, USA.
FTS provides Asset Integrity Management (AIM) including world-class web-based Mechanical Integrity Management systems and services to the oil, gas and chemical industries in the US and internationally. FTS is recognized as a leader in providing innovative data gathering systems and developing customized software solutions for labor-intensive data management processes and corrosion monitoring programs.
Founded in 1992 and privately owned, FTS has 350 employees in Bartlesville OK, Ponca City OK and Houston TX. This year revenues will exceed US $30 million.
This acquisition is in line with the SGS Industrial Services strategy to serve the rapidly growing AIM market. Leveraging the current SGS Oil, Gas & Chemicals client base and replicating FTS' Asset Integrity Management expertise within the SGS network will yield opportunities for expanding market services. International opportunities will focus in the Canadian Oil Sands, Middle East and Asia.
For further information, please contact:
Jean-Luc de Buman
Corporate Communications & Investor Relations
SGS SA, 1 place des Alpes, CH - 1211 Geneva 1
t: (+41-22) 739 91 11
f: (+41-22) 739 98 61
The SGS Group is the global leader and innovator in inspection, verification, testing and certification services. Founded in 1878, SGS is recognised as the global benchmark in quality and integrity.With more than 48,000 employees, SGS operates a network of over 1,000 offices and laboratories around the world.