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TWST: We'd like to begin with a brief overview of Team.
Mr. Hawk: Team, which operates under the Team Industrial Services brand,
is a leading provider of specialty maintenance and construction services
related to pressurized piping systems and related processes. We offer an
array of eight complementary services that span both 'on-stream'
maintenance activities as well as outage or turnaround work. Our
largest customer markets include refining and petrochemical plants,
pipelines, power plants as well as heavy industrials, such as the pulp
and paper, steel, aluminum and automotive industries. More than 90% of
company revenues are derived from service activities within North
America. The company has a significant service presence throughout the
US, Canada, Aruba, Venezuela and Trinidad. Our revenues for the current
year will be about $250 million. We currently have about 2,500
employees. TWST: How did Team get started?
Mr. Hawk: Team was founded over 30 years ago in 1973. For the first 25
years of its history, Team focused on its three original service lines:
on-stream leak repair, hot tapping and fugitive emission monitoring.
All of these services are oriented to plant maintenance while the plant
is running or 'on-stream.' The company did quite well, quickly
expanding from its initial service location in the Houston area to a
network of branches throughout the US. This growth throughout the 1970s
enabled the company to go public in 1980 (symbol TMI ' AMEX). During
the 1980s and much of the 1990s, while continuing in the industrial
service business, the company unsuccessfully attempted a number of
diversification efforts into other businesses. In the late 1990s, Team
refocused on its core industrial services business. Over the past seven
or eight years, we've added five additional complementary services,
including field machining, bolting, field valve repair, non-destructive
testing inspection services and field heat treating. These services
significantly expanded our service potential with our existing customers
and market segments.
Tickers included in this excerpt: TMI
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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