Calabasas, CA (December 8, 2009 )National Technical Systems Inc. (NASDAQ: NTSC) (NTS), a leading provider of engineering services, announced today that its NQA division has completed the acquisition of Unitek Technical Services, Inc., formerly a Business Unit of Bureau Veritas, in an all-cash transaction. Unitek is a leading provider of supply chain management services headquartered in Centreville, VA, close to Washington, DC. Further terms were not disclosed.
Founded in 1973, Unitek provides supplier management, development, source inspections and related technical services to corporations worldwide. Unitek's client list includes a distinguished list of tier one aerospace and defense suppliers to the federal government and commercial customers, said William C. McGinnis, CEO of National Technical Systems. Unitek is also certified to the internationally recognized Aerospace Quality Management standard AS 9100.
"Unitek enjoys great customer relationships and has an advanced customer and resource management software system," McGinnis said. "Unitek's technically advanced, web-based system will allow our clients, suppliers and field resources the ability to access data in real time, which can provide a range of unique value-added services. These customer relationships and resources, along with Unitek's experienced and dedicated management team and staff, will allow us to further integrate and support our clients with an even broader range of services.â
Unitek's long term performance and track record with its clients speaks to the company's dedication to being responsive to client needs, and to its ability to provide high quality support resources on demand, added Derek Coppinger, NTS Senior Vice President responsible for acquisitions.
The acquisition of Unitek Technical Services helps fill a strategic piece of our overall business plan to provide engineering and technical support services to our extended client base, specifically in the aerospace & defense markets,â Coppinger said.
Unitek's current management and employees are expected to remain with the firm and continue to operate from its Centreville headquarters.
About Bureau Veritas
Bureau Veritas, headquartered in Neuilly-sur-Seine, France, is a global company, founded in 1828, offering conformity assessment services in the areas of quality, health, safety, environment and social responsibility (QHSE). With over 2,000 professionals in over 50 offices across the United States, and operations in over 900 locations in 140 countries, Bureau Veritas develops solutions that contribute to risk prevention and performance improvement for commercial and governmental clients.
About National Technical Systems
National Technical Systems, Inc. is a leading provider of engineering and testing services to the defense, aerospace, telecommunications, automotive and high technology markets. Through a world-wide network of resources, NTS provides full life-cycle product integrity support, offering world class design engineering, compliance, testing, certification, quality registration and program management. For additional information about NTS, visit our website at www.ntscorp.com or call 800-270-2516.
Forward Looking Statements
The statements in this press release that relate to future plans, events or performance, are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, including the possibility of contract cancellations, demand for services and products, development of markets for the companies' services and products and other risks identified in the companies' SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The companies undertake no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding National Technical Systems' business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.