UK: New Contracts Boost IVB’s Turnover

Significant new contracts have boosted fledgling East of England company Inspection Verification Bureau Ltd (IVB).

Launched less than two years ago but led by a small team with combined experience of more than 100 years, the latest business will allow the Norfolk-based business to hit its annual growth target of 20% on current turnover of £2m.

 “It has also given us tremendous momentum for future years,” said chairman Chris Bolton. “We’re getting lots of good inquiries, more than half of them directly through our website.”

IVB offers global support with inspection and verification for the oil, gas and renewables sector and latest contracts include work for Rossi Long, ODE, National Oilwell Varco and Petrofac.

 “We’re delighted with the new website created for us by TMS Media and more than half our inquiries come directly from that source,” said Mr Bolton.

 “Interest is coming in from all over the world and around 80-85% of our income is from overseas. But we are working hard to boost UK trade as well.”

Among the new contracts is inspection services work with international engineering contractor ODE in Great Yarmouth to support EAOW (East Anglia Offshore Wind), a joint venture between Scottish Power Renewables (SPR) and Vattenfall Wind Power Limited to develop a windfarm off the East Anglia coast.

IVB will continue to support ODE with third party inspection at vendor sites around the UK ensuring onsite compliance with client procedures, inspection test plans and other mandatory requirements.

The company will also work with ODE’s Kingston-Upon-Thames office on the Solan Topsides project providing vendor inspection services. The Solan oil field lies west of the Shetland Islands in 135m deep waters.

For Norwich-based Rossi Long, IVB is helping with structural design calculations and fatigue analysis for Oceaneering Ltd, Knightsbridge Project clump weights to be used in the North Sea. Made with a mixture of magnetite the large clump weights were constructed with a unique tether attachment designed for stability and ease of access for offshore vessels.

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Press release, January 08, 2013; Image: ivbltd