SGS Acquires 51% Stake in Suzhou Safety-Tech Valve Testing Co., Ltd., China
SGS is pleased to announce the acquisition of a 51 percent stake in Suzhou Safety-Tech Valve Testing Co., Ltd. (Safety-Tech), headquartered in Suzhou, China.
Safety-Tech offers specialized valve maintenance, repair and overhaul (MRO) services principally to the energy, metallurgy and papermaking industries. The company holds both local and international accreditations necessary to perform MRO services. Founded in 2010 and privately owned, Safety-Tech operates principally out of Suzhou with four offices elsewhere in China. With 52 staff, the company generates revenues in excess of RMB 18 million.
“I am very pleased with this acquisition. It is in line with our strategy to develop further our industrial footprint in China,” said Frankie Ng, CEO of SGS. “It will benefit from synergies with our existing calibration, testing and non-destructive testing operations.”
For further information, please contact:
Jean-Luc de Buman
Communications & IR
SGS SA, 1211 Geneva 1
t: (+41-22) 739 91 11
f: (+41-22) 739 92 00
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 80,000 employees, SGS operates a network of over 1,650 offices and laboratories around the world.