Earlier this year we were pleased to announce the merger of EUTEX and ATEC, a decision made after a careful business analysis following EUTEX´s core values and under the company´s commitment to the energy industry and customers to prioritize the safety of hazardous areas personnel. Six months post-merger we are delighted to share with you some of our successes.
With the objective to raise hazardous area safety and compliance awareness, our team has trained around 76% more students so far this year than in 2021 in our centers around the world. Hazardous area installers, inspectors, designers, maintenance personnel, and their managers, from OEM, EPC & Major Oil and Gas Operators have been trained and certified in EUTEX classrooms. Which reaffirms our success to our commitment to helping companies ensure safe operations in hazardous areas one student at a time.
On the other hand, this year we have been awarded various FLNG, FPSO, water treatment, explosive dust, and hydrogen feed inspection projects. EUTEX has engaged in the reactivation of drilling projects in Asia, the Middle East, and the United States. Our team has provided inspection services following our unique “fail-fix” philosophy, a process in which at the time of inspection our inspectors not only inspect but also fix potential issues without the intervention of our client. This approach is really cost-effective as it reduces the time it takes a plant to meet compliance as does not require the intervention of additional in-house or third-party personnel.
As the energy industry reactivates, EUTEX has seen an increase in demand for electrical cable and hazardous area-related electrical products. This has led us to increase our NEK 606 stock holding. With over $3 Million on a range of BFOU and RFOU cables available to be cut to length at our Houston Distribution Center.
In addition, we have a full range of CMP both UL and IEC Ex glands. Our CMP inventory levels have increased by 200%. With the post-covid imminent disconnect in the supply chain, our main objective is to serve our clients from on-hand inventory, as opposed to long lead times.
One of our main highlights since our merger is being in a position of providing our clients with a full hazardous area solution. Being able to offer turnkey solutions from hazardous area apparatus design review, periodic inspections, training, and product/unit certification to electrical product supply have been key deliverables to the success of our merger.
A one-stop service from implementation to execution has enabled our clients to have the confidence that their assets are correct “first time” as opposed to additional costs on design changes, remedial scope, and non-compliance. Having certified staff, products, and services available for international projects has allowed EUTEX to be the first turnkey hazardous area provider worldwide.
Our people are our business and the core of EUTEX’s success. Our recruitment has gone straight to our growth strategy, our team has doubled globally. We are delighted to have amazing, talented, experienced people join us in our commitment to ensuring safety for the energy industry and its personnel worldwide.
Tommy Sutherland, EUTEX CEO commented:
The merger of EUTEX and ATEC was met with an element of doubt. Questions were raised about how we would position ourselves from COVID and with a depressed oil and gas market by combining product supply business with services.
These past six months have proved it was the right choice for the business and our customers. Our objective was to be the global leading provider of full turnkey hazardous area solutions from training, inspection, certification, and product supply.
This approach has clearly made EUTEX the go -to company for hazardous area solutions.