EQE International Joins Forces with ABS Group.OAKLAND, Calif.--(BUSINESS WIRE)--Dec. 2, 1999-- EQE EQE Equivalent Quantum Efficiency EQE Environmental Quality Evaluation International Inc. is very pleased to announce a merger with ABS Group, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the American Bureau of Shipping The American Bureau of Shipping (ABS) is a classification society. At the end of 2006, ABS was the third largest class society with a classed fleet of over 10,000 commercial vessels and offshore facilities. (ABS). This merger cements the relationship between two companies that share the same primary strategic vision -- to be the leading company in the world providing risk, reliability and safety services. EQE International is the leading independent provider of risk management information, software, consulting and engineering services to multiple industries, governments and businesses. Headquartered in Oakland, EQE International employs over 550 staff, located in 33 offices around the world. ABS Group of Companies, Inc., is headquartered in Houston and operates through a number of subsidiaries worldwide to provide integrated safety, quality and environmental management solutions to clients in the petrochemical, utility, offshore, marine and insurance sectors. EQE International will maintain its present identity and structure and become the risk and reliability platform company for the ABS Group. The current ABS Group's Risk and Reliability Division, including the former JBF JBF Just Between Friends (consignment shops) JBF Journal of Banking and Finance Associates, will be integrated into EQE International. "EQE complements the already impressive array of safety, quality and environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, offered by ABS Group," said Douglas Frazier, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Of EQE International. "Our extensive proprietary databases, market leading software and expertise in safety, risk quantification and risk mitigation including risk reduction, transfer and securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. , dovetail dovetail (dov´tāl), n a widened or fanned-out portion of a prepared cavity, usually established deliberately to increase the retention and resistance form. seamlessly with ABS Group's growing global activities." "EQE's strong position in the insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry complements the safety and environmental solution capability offered by ABS Group," said Peter I. Yanev, president and co-founder of EQE International. The acquisition of EQE International is part of a business strategy adopted by ABS Group to become the world's leading organization dedicated to managing risk by improving the safety, enhancing the quality and minimizing the environmental impact of its clients' activities. According to ABS Group Chairman and CEO Frank J. Iarossi, "The acquisition of EQE International would help ABS Group to respond to the growing need of our clients to identify, assess and manage risks, whether they are complex business risks or catastrophe or natural hazard risks." Shareholders, financial institutions and insurers expect companies to quantify, manage and transfer the risks of their operations in a responsible manner. "The technology-driven approach developed by EQE towards managing natural, human and technological risks provides a template for optimizing risk transfer, improving safety and mitigating loss," added Iarossi. EQE International is one of the largest and most respected risk management and information companies in the world. It was founded in 1981 to provide catastrophic risk management consulting, design and research services to the commercial, utility, nuclear and high technology industries. Since that time it has extended its services to other industries, in particular insurance, finance, oil and gas and transportation. EQE offers risk consulting, information and software based on a solid foundation of engineering, science and technology. |
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