SGS declared the acquisition of a 51% 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 mainly to the energy, metallurgy and papermaking industries. The company holds both local and international accreditations needed to perform MRO services. Founded in 2010 and privately owned, Safety-Tech operates basically out of Suzhou with 4 offices elsewhere in China and generates revenues in excess of RMB 18M.
“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.”