AGR EmiTeam AS acquires Safe Control inspection services group

Offshore staff

VARBERG, Sweden -- AGR EmiTeam AS, part of the Norway-based AGR oil technology and services group, has acquired Safe Control NDT AB of Sweden in a deal worth $785,000.

Safe Control provides inspection services to operators of Swedish oil refineries, power stations, and other energy facilities. Based in Varberg, Sweden, the company has secured a number of long-term agreements to provide its services. Revenues in 2006 are estimated at $1.4 million.

Safe Control was 100% owned by Lars Carlsson, chief executive. Carlsson will remain with the enlarged group, responsible for managing the Swedish operation, which will be renamed AGR EmiTeam AB.

"We are delighted with this move," says Carlsson. "Through this link, we will all be able to provide larger projects and a wider range of services in the specialized inspection market. At the same time, being part of a financially strong group will open up opportunities for growth and investment in the Swedish part of the business."

01/08/2007