KBC Acquires Veritech Inc.
KBC Advanced Technology plc (KBC), a leading independent global consulting organisation for the oil refining, petrochemical and process industries, announces the acquisition of Veritech, Inc. (Veritech), a leading US energy consultant.
London, UK, and Houston, Texas, USA (PRWEB) November 9, 2006 -- KBC Advanced Technology plc (KBC), a leading independent global consulting organisation for the oil refining, petrochemical and process industries, announces the acquisition of Veritech, Inc. (Veritech), a leading US energy consultant.
Based in Sterling, Virginia, Veritech is a private company that provides services and software in the area of energy optimisation and management for clients in the process industries. Veritech owns and licenses its proprietary simulation and monitoring software packages Persimmon™ and ESteam™.
Through KBC’s acquisition of the Linnhoff March group in 2002, KBC’s energy optimsation business has been very successful in Europe, the Middle East, and Asia. Veritech’s track record in the Americas will both complement and enhance KBC’s coverage of this important sector of our market. Until the early 1990s, Veritech was a part of the former Linnhoff March group, and, therefore uses methodology and tools common to those used by KBC’s consultants.
KBC’s Chief Executive Officer, George Bright commented, “This acquisition will help KBC build a larger American footprint in the important area of energy optimisation across the oil refining, petrochemical, and other process industries. Rationalisation of the company’s tools and methodologies will bring significant benefit to the industry.” Mike Rutkowski, President of Veritech, stated, "Veritech is very excited about the acquisition, because it will allow us to offer our clients a much broader range of products and services significantly impacting the benefits we can deliver. Additionally, we expect our combined technologies to result in new products for the industry."
About KBC:
KBC Advanced Technologies plc, a leading independent consulting, process engineering and software group, delivers improved operating performance to the oil refining, petrochemical, and other process industries worldwide. We provide process consulting, strategic planning advice, organisational effectiveness services, energy price forecasting and market analysis, economic studies, capital project services, and training to help clients achieve their business objectives and improve their competitive position. KBC analyses plant operations and management systems, and our consultants recommend changes for material and measurable improvements in profitability. To assist clients in realising such improvements, KBC provides implementation services and software solutions, including the KBC PROFIMATICS™ models and Petro SIM™ for process optimisation, and Linnhoff March energy optimisation software packages. Formed in 1979, KBC has offices in the UK, USA, Canada, Singapore, the Netherlands, Russia, China, and Japan. For more information, visit www.kbcat.com.
Contact for KBC Advanced Technologies plc
Corporate Communications
Tamra Daniels
Tel: +1 281 293 8200
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