Bureau Veritas completes Sievert acquisition strengthening its position in Asia

21/08/13

Following the agreement signed on March 14, 2013, Bureau Veritas completed the acquisition of the Sievert group at the beginning of Q3 2013.

 

Sievert is a leading provider of industrial inspection services and non-destructive testing (1)of industrial equipment. It has developed a comprehensive suite of conventional and advanced services, primarily addressed to the oil & gas industry, for the inspection of onshore and offshore pipelines.

 

Sievert has around 1,600 qualified employees and a strong presence in India, South East Asia and the Middle East. It reported a revenue of USD 42 million in 2012-2013 fiscal year (at end March 2013), up 28% year-on-year.

 

Non-destructive testing of industrial equipment is an attractive global market, estimated at USD 3.5 billion, with a growth rate of around 9% per year. Demand is driven by growing needs, both in mature economies that are facing challenges related to ageing infrastructure and in new economies investing in the construction of industrial facilities.

 

The acquisition of Sievert expands Bureau Veritas' footprint in the industrial testing market, making it one of the world leaders in non-destructive testing. Sievert's technical expertise will be leveraged throughout the Bureau Veritas geographical network and offered to industrial sectors other than Oil & Gas.

 

"(1)Non-destructive testing is a set of analysis techniques used to evaluate the properties of a material, component or system without causing damage."

 

To visit our Sievert website - click here

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