Veritas, PGS announces new name

Veritas DGC Inc. and Petroleum Geo-Services announced a new brand name, VGS Inc., and logo for the proposed combination of the companies. The newly formed parent company will be in the Cayman Islands. This new company will be represented as "Veritas Geo-Services," using a new logo that incorporates the current PGS graphics with the letters "VGS," in a new color scheme. Marketing executives of both companies said the goal in deciding upon a new name was to capture existing brand equities of both organizations while creating a singular identity for the combined company. Dennis Jordhoy, vice president of corporate marketing for Veritas and Sverre Strandenes, senior vice president of corporate profiling for PGS, said in a joint statement, On June 21, the two companies announced an amendment to their agreement originally reached last November. The companies expect to complete the transaction in the late third quarter or early fourth quarter this year.