Regulatory Filings • Mar 20, 2012
Regulatory Filings
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Neuilly-sur-Seine, France, March 20, 2012 – Bureau Veritas announces it has signed an agreement to acquire TH Hill, a worldwide leader in oil & gas drilling failure prevention and analysis services. The transaction is expected to be completed in April, upon clearance by the relevant authorities.
Founded in 1980 and headquartered in Houston, Texas, TH Hill offers quality assurance, engineering and training services to minimize the risk of structural and mechanical failure of both onshore and offshore drilling equipment. TH Hill also develops unique standards including DS-1® , a global standard for drill string design, manufacture, operation and inspection and STC-1 for the certification of drilling specialty tools. TH Hill operates in more than 50 countries and has offices in Canada and Brazil. It has over 250 employees and reported gross revenue of around €36 million (US\$47 million) in 2011.
"This acquisition is a unique opportunity to reinforce Bureau Veritas' expertise in the oil & gas drilling industry. This industry offers strong growth potential given the increasing complexity of drilling systems, particularly for shale gas, and the need for more systematic drilling quality assurance processes following the Macondo catastrophe. In addition to strengthening our presence in the strategic US energy segment, TH Hill will enable us to build a compelling integrated services offering in order to better serve the oil & gas industry worldwide.
Furthermore, with the recent acquisition of AcmeLabs in Canada, a leading player in minerals testing, the Group has significantly enhanced its technical capabilities and position in North America."
Following this acquisition, Bureau Veritas will have 3,300 employees in the United States
Bureau Veritas is a world leader in conformity assessment and certification services. Created in 1828, the Group has more than 52,000 employees in 940 offices and 340 laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performances by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on the Euronext Paris and belongs to the Next 20 (Compartment A, code ISIN FR 0006174348, stock symbol: BVI). www.bureauveritas.com
Claire Plais: +33 (0)1 55 24 76 09 [email protected]
Véronique Gielec: +33 (0)1 55 24 76 01 [email protected]
TBWA\Corporate: Anne-Laure Bellon: +33 (0)1 49 09 27 93 [email protected]
Magali Preud'homme: +33 (0)1 49 09 27 92 [email protected]
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