Bureau Veritas continues expansion in US petrochemical market with the acquisition of Summit Inspection Services

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Jun 01, 2016, 02:21 ET

HOUSTON, June 1, 2016 /PRNewswire/ -- Bureau Veritas has acquired Summit Inspection Services, Inc. (Summit), a US company specialized in fugitive emissions inspection services for the OPEX petrochemical industry.

Founded in 1998 and based in California, Summit is an industry leader in fugitive emissions control and leak detection & repair for oil refineries and chemical facilities. The company employs over 175 people and generated revenue of approximately $16 million in 2015.

Summit strengthens Bureau Veritas' presence in the petrochemical market in the United States, particularly in the Gulf Coast and West Coast corridors. These regions offer significant growth prospects due to increased petrochemical production.

Pedro Guimaraes, Bureau Veritas' Executive Vice-President, North America Commodities and Industry & Facilities Operating Group, stated:

"Summit's specialization in fugitive emissions and leak detection & repair expands Bureau Veritas service offering in the OPEX Petrochemical industry, a strategic growth area for Bureau Veritas domestically and globally. Summit's skilled management team and workforce will provide the exceptional level of expertise and service that customers have come to expect from Bureau Veritas."

Monte Nelson, Summit's President stated:

"We are excited to be joining the Bureau Veritas organization, providing us a platform to expand both service capabilities and geographic range to our valued clients. As the global economy continues to expand, Bureau Veritas' global network provides us with a unique competitive advantage, and value proposition that will prove beneficial for our clients."

Following this acquisition, Bureau Veritas will have 6,700 employees in the United States and Canada.

About Bureau Veritas

Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has more than 66,000 employees in around 1,330 offices and laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performance by offering services and innovative solutions 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 Euronext Paris and belongs to the Next 20 index.

Compartment A, ISIN code FR 0006174348, stock symbol: BVI.

For more information, go to www.bureauveritas.com

SOURCE Bureau Veritas