Hertel expands foothold in Kazakhstan and Azerbaijan

Hertel has recently acquired PFP Caspian LLP expanding its geographic reach into Kazakhstan and Azerbaijan.

Founded in 2005 PFP Caspian offers scaffolding, specialist coatings, passive fire protection and insulation services to national and international oil companies. Since its foundation, PFP Caspian has managed to develop strong relationships in the Eurasian market. Founder Mr. Craig Dunn has an extensive experience in international industrial services.

Joost Knoll, CEO Hertel Group: ‘PFP Caspian is a well-respected, entrepreneurial company that fits in well with the Hertel spirit. Our aim is to build on the relationships PFP Caspian has with its customers. We work hard to establish sustainable relationships with our customers, suppliers and our people. Our client retention rate is over 90% and indeed we have been serving many of our blue chip customers for more than 30 years. Because of our ability to think and act long term, we have been able to continuously offer our customers the most cost-effective project- and maintenance solutions, aimed at lowering the total cost of ownership whilst simultaneously improving uptime. Together with the in-depth regional knowledge of PFP Caspian we will build a strong, sustainable Hertel organisation in this part of the world’.

Craig Dunn, Managing Director PFP Caspian: ‘The senior management of PFP Caspian have a made great deal of progress in the Caspian Region in a relatively short period of time against significantly larger and better resourced competitors and I would like to take this opportunity to thank everyone involved for their hard work and loyalty. The Caspian is an exciting market with tremendous growth potential, and we now find ourselves able due to the significant technical expertise and wide range of services Hertel provides in a stronger position, not only to service our current business better but to expand on it and maximize our growth. The decision to become part of Hertel was supported by every level of our company and was welcomed by our existing clients’.

The PFP Caspian acquisition is Hertel’s sixth in the emerging markets since 2008. Earlier acquisitions include MSL Group in Bahrain, Willich in Thailand, Ming Yun in China, Kok Chang and Tong Hoi Engineering in Singapore. All acquisitions already contribute positively to the group performance and have been integrated successfully and wholeheartedly.
Balancing geographic spread and serving clients all over the world are two important elements in the Hertel group strategy and both prove to work well. As of 2009, over 40% of Hertel’s total workforce is employed in Asia and the Middle East.

About Hertel
Hertel was founded in 1895 as a supplier of gaskets to the maritime industry by Mr. Alexander Hertel in Amsterdam, The Netherlands. Today, Hertel constructs, maintains, modifies and dismantles plants and installations for the oil & gas, (petro)chemical, process and power industries in Europe, Asia and the Middle East. Hertel’s Defence & Offshore designs, fabricates and installs accommodation modules for offshore living quarters, containerised solutions for the defence industries, and blast proof accommodation for industrial areas. Group revenues in 2008 were in excess of €780 million.

With over 115 years of experience in the industry, Hertel has been able to establish operations throughout the world. Customer focus and improvement is focal point for our people. Each day, over 10,000 employees enrich our customer’s business. We perform, we deliver, we improve.

Tuesday 29th of September 2009, 08:36:47 AM BST

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Peter Bassa
peter.bassa@hertel.com

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