Bright Future in Ultrasound
06 June 2006 09:46
Bright future in ultrasound
AGR PipeTech AS has bought up the British ultrasound specialist firm, Technology Design ltd (TD), a leading company in development of inspection equipment based on phased array technology.
The Manchester-based company has specialized in developing and commercializing products to detect faults using state-of-the-art ultrasound technology. The company is renowned for its application of phased array, Time of Flight Diffraction (TOFD) and pulse echo techniques.
TD provides inspection equipment adapted to a number of different sectors.
Development of software for graphical presentation of the results of inspection assignments is another of TD's strengths.
The two companies have enjoyed close cooperation over the past decade. Several of AGR PipeTech's current solutions for inspection of pipelines are based on technology developed by TD.
Introduction in new sectors
Ultrasound is an exciting technology for AGR PipeTech, with a potential for substantial growth. This acquisition will help expand our product line, while also providing opportunities to introduce this technology in new business sectors," comments Ability Group's Managing Director Sverre Skogen.
"For example, existing solutions can yield substantial synergy effects also as regards the line of services offered by AGR EmiTeam AS," says Skogen.
Plans further expansion
Technology Design is the first acquisition made by Ability Group AS outside of Norway. The company has nine employees and had sales of NOK 18 million last year.
"The acquisition is part of our plans for further expansion, also in the international arena. This is a good example of the type of investment we expect to make in the future," says Skogen.
AGR PipeTech AS is a subsidiary of Ability Group AS. The group has 900 employees, and a turnover last year of NOK 845 million. The company's board of directors has decided to apply for listing on the Oslo Stock Exchange by the end of this year.
For more information on this company:
AGR Pipetech - Pipeline Inspection and Defect Detection
Copyright 2007 SPG Media Limited a subsidiary of SPG Media Group PLC
