September 10, 2008

US Acquisition

HOUSTON and HAMBURG, Germany, September 10 /PRNewswire/ -- US-based "Material Consulting Services, Inc." (MCS) is the latest addition to the Germanischer Lloyd Group. With the acquisition of the vendor and site inspection company based in Houston, Texas, the GL Group yet again expands its service portfolio for the oil and gas industry.

"With MCS, the GL Group adds significant expertise in the tubular and downhole equipment sector to its offerings. Together with Advantica and PV Inspection, MCS will operate from the GL Group's oil and gas skills base here in Houston," said Pekka Paasivaara, Member of the Executive Board Germanischer Lloyd. "In addition, the GL Group increases its scale in global third party inspection business." Previous acquisitions in Great Britain, Canada, the U.S. and Malaysia in the past twelve months have strengthened the technical portfolio of the GL Group considerably.

MCS provides quality assurance and quality control services to the oil and gas industry. The company focuses on the upstream sector and is a renowned specialist in downhole equipment and tubular goods. Experience includes projects in the United States and the Gulf area, the Middle East and South East Asia. MCS operates from their headquarters in Houston and further locations in Lafayette (Louisiana), Muskogee (Oklahoma) and Dubai. The company was established in 2000.

MCS determines witness, hold-points or monitors all phases of the manufacturing and inspection processes. The 160 inspectors and consultants are supported by roughly 150 additional contractors. They provide experience in project management, quality surveys, procedure writing, manufacturing, machining, NDT, training and all relevant industry codes such as API, ISO, ASNT, ASTM, ANSI, ASME and NACE. The company has evaluated tubular goods, valves, wellhead equipment, drill stem, downhole accessories, completion equipment, pressure vessels, heat exchangers, tanks, vessels, compressors, electrical equipment and controls, internal and external plastic coatings and paints.

The GL Group's Industrial Services offer third party certification and inspection, independent design verification, as well as risk-based inspections and condition surveys of production facilities both onshore and offshore. The holistic service offering is directed at owners and operators of complex plants and installations. Complemented by the British Advantica Group, Canadian and U.S. PV Inspection, and Kuala Lumpur-based Trident Consultants the GL Group's range of oil and gas services extends across the asset life cycle. With the additional expertise of MCS, Germanischer Lloyd will now be able to further extend its network and service portfolio especially in the US and the Gulf region.

Company Profile GL Group Industrial Services

Energy prices are reaching new record highs almost on a daily basis. Working against the trend, international oil companies are searching for oil and gas deposits in deeper waters and more remote areas than ever before. The associated technical challenges are becoming tougher. In-depth, state-of-the-art technology expertise is as vital as the ability to handle the challenges of logistics in remote areas. At the same time, renewable energies are in high demand.

The GL Group's Industrial Services offer a full range of sophisticated technical services in a tailor made fashion addressing all relevant safety and risk issues of installations related to energy production, storage and transportation. As a global engineering consultancy, independent certification body and third party inspection in the oil & gas as well as the renewable energy sectors, the GL Group offers a "one stop shopping" approach for its worldwide customer base including comprehensive technical services across the asset life cycle.

In the oil & gas business segment the GL Group's range of services extends to project consulting for oil and gas production, storage, subsea technology, LNG terminals, pipeline engineering as well as gas, electricity and water distribution networks. This is complemented with the corresponding software solutions and consulting services for installation performance, maintenance and process control.

Intensive consultancy, accompanied by inspection and certification procedures, provides customized support for manufacturers, operators, banks and investors at all stages in the value-added chain of industrial plants, such as planning and development, construction, commissioning, operation as well as dismantling and shutdowns.

The scope of capabilities, presented together with member companies of the GL Group, the British-based Advantica Group, Canadian PV Inspection and Malaysia's Trident Consultants, comprises design review and verification, risk assessments, quality assurance and control (QA/QC), acceptance tests, asset integrity management and condition monitoring as well as large-scale hazard testing.

Apart form technical services and consultancy in the oil & gas sector, the GL Group is also providing technical expertise to all players in the expanding wind energy markets around the world.

About the Germanischer Lloyd Group

The GL Group with its head office in Hamburg, Germany is devoted to promoting innovation, sustainability and environmental protection. It is a dynamic, innovative, forward-thinking, expansion-minded organisation. Across the board, technical know-how, uncompromising quality and first-class service are the prime assets of the GL Group. The Group consists of two business fields, maritime services and industrial services. Originally founded as a classification society in 1867, the company's core competence has been to set standards in technology, safety and quality for the maritime industry. Today, the GL Group's maritime services are in charge of technical surveys of over 6,800 sea going vessels with more than 75 million GT. Due to its quality standards, the GL Group is one of the best performing classification societies according to port state statistics. The group employs 4,900 experts and maintains a global network of 208 offices in 77 countries.

   Press contact:    Germanischer Lloyd Corporate Communications,   Tel. +49(0)40-36149-4509, Fax +49(0)40-36149-250, [email protected],   Your contacts are Dr. Olaf Mager and Stefanie Normann-Birkholz.  

Germanischer Lloyd

CONTACT: Press contact: Germanischer Lloyd Corporate Communications,Tel. +49(0)40-36149-4509, Fax +49(0)40-36149-250, [email protected], Yourcontacts are Dr. Olaf Mager and Stefanie Normann-Birkholz.