Princeton Junction, NJ - November, 2013 - MISTRAS Group, Inc. (NYSE:MG) announced today that it has acquired Carmagen Engineering, Inc. a professional engineering consulting and technical training services provider serving the hydrocarbon processing and other energy-related industries.
Since 1986, Carmagen has been providing a wide range of services focused on the oil & gas industry that includes plant operations support; profit improvement analysis; turnaround planning & execution programs; and technical training ranging from process safety to reliability and maintenance, to asset design and integrity instruction.
"We are very pleased with the addition of Carmagen and its very experienced professional engineering team. Carmagen will deliver high value engineering services from an owner/operator perspective, supporting our one source for asset protection solutions strategy by providing customers with competitive advantages," said Sotirios Vahaviolos, Chairman and CEO of MISTRAS.
One area that Carmagen engineering services directly is an ongoing need from customers to reduce downtime by shortening the duration of turnarounds and extend run length between shutdowns and turnarounds without compromising safety and reliability.
"This is an ideal complement to MISTRAS' comprehensive and advanced asset protection portfolio of solutions by identifying the right inspection technologies and methods, information management, and monitoring system requirements early in the planning phase to meet the customer's objectives," said Ralph Genesi, Group Executive Vice President, Sales & Marketing.
"The Carmagen team is very excited about the strong synergies and tremendous growth opportunities available to us under the MISTRAS umbrella, now being able to introduce our brand of professional services to the vast Mistras oil & gas customer base worldwide, and helping MISTRAS expand their substantial capabilities to additional technical areas," said Vincent Carucci, President, Carmagen Engineering, Inc.
About MISTRAS Group:
MISTRAS is a leading "one source" global provider of technology-enabled asset protection solutions used to evaluate the structural integrity of critical energy, industrial and public infrastructure. Mission critical services and solutions are delivered globally and provide customers with asset life extension, improved productivity and profitability, compliance with government safety and environmental regulations, and enhanced risk management operational decisions.
MISTRAS uniquely combines its industry-leading products and technologies - 24/7 on-line monitoring of critical assets; mechanical integrity
) and non-destructive testing
) services; destructive testing
) services; process and fixed asset engineering and consulting services; and its world class enterprise inspection data management and analysis software (PCMS™) to provide comprehensive and competitive products, systems and services solutions from a single source provider.
For more information, please visit the company's website at http://www.mistrasgroup.com or contact Nestor S. Makarigakis, Group Director, Marketing Communications at email@example.com.
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