American Innovations Acquires
Bass-Trigon from Corrpro Companies
AUSTIN, TX & LITTLETON, CO – March 10, 2003:
American Innovations, Ltd. (AI) and Corrpro Companies, Inc. (AMEX:CO)
announced today that AI has acquired the assets of Bass-Trigon Software
from Corrpro for an undisclosed amount. Bass-Trigon will become a division
of AI and will continue to operate from its headquarters in Littleton,
Colorado and its office in Longview, Texas. Bass-Trigon and Corrpro
will maintain their non-exclusive, worldwide distribution arrangement.
Bass-Trigon was formed through the merger of two industry
leading software engineering companies: Bass Software and Trigon Software.
In 1984, Dr. Jim Bass founded Bass Software to develop and market a
system for managing pipeline compliance information. Trigon Software,
focused on pipeline risk assessment software, was founded by Mike Gloven
in 1992 as a spin-out from Trigon Engineering, a pipeline engineering
company headquartered in Denver, Colorado. The two companies merged
in 1996 and Bass-Trigon was purchased by Corrpro in 1999.
Bass-Trigon is a leading provider of integrity management
solutions, technology and engineering expertise that support pipeline
reliability and safety. Technology includes the industry leading Pipeline
Compliance System (PCS™) software, the Integrity Assessment Program
(IAP™) and the Allegro® handheld computer. These proven solutions
help owners and operators of hazardous liquid and natural gas pipelines
comply with safety regulations; reduce the cost of field data collection;
comply and manage pipeline data and associated corrosion protection
system information; identify and quantify areas of high risk and cost
of failure; and prioritize, manage and maximize the return on investment
associated with pipeline maintenance programs.
As risk management experts, Bass-Trigon serves primarily
the global petroleum and natural gas pipeline industry and has deployed
more than 1,500 systems throughout the world. In addition to providing "best-in-class" software,
BTS supports its customers with a comprehensive suite of engineering
consulting services, thereby providing a single source solution to their
pipeline risk and integrity management needs.
"Adding Bass-Trigon to the American Innovations
family is a natural fit," explains AI President Rich Smalling. "We
are bringing together companies that are dedicated to providing reliable
pipeline integrity and compliance solutions to oil and gas customers.
The companies have very compatible, entrepreneurial cultures and serve
many of the same clients."
AI's Bullhorn® remote monitoring system is an ideal
solution for monitoring pipeline rectifiers and test points, compressors,
tanks, city gates, gas meters and more. The Bullhorn system uses the
MicroBurst™ wireless network from Aeris.net to transfer information
from remote equipment to a central database. In seconds, data packets
are transferred from the Bullhorn unit over the cellular network to
the Aeris.net operating center and on to AI's secure web site where
packets are decoded and the data is posted for customers to view or
to download.
"Both the Bass-Trigon and Bullhorn product lines
help pipeline companies comply with current regulations and make their
equipment safer overall," says Lee Blankenstein, VP of Sales and
Marketing. "With Bullhorn and Bass-Trigon, customers have a total
pipeline integrity solution using the best technologies available."
"We are excited to be acquired by American Innovations,
and expect that their commitment to Bass-Trigon will continue to fuel
our success in the delivery of reliable, customer focused solutions
to support safe pipeline operations", says Mike Gloven, President
of Bass-Trigon. "AI is a great partner to support the broadening
of our overall offer of pipeline integrity management supported by practical
technology innovation. We are also pleased that Corrpro has agreed to
continue to offer the Bass-Trigon product line to its customers and
alliance partners".
Corrpro was represented in this transaction by Brown,
Gibbons, Lang & Company (BGL), a leading investment bank with offices
in Cleveland and Chicago. BGL specializes in providing financial advisory
services to middle-market companies nationwide with total enterprise
values typically ranging from $20 million to $500 million.
About Bass-Trigon: Based in Littleton, Colorado, Bass-Trigon
is the industry-leading provider of integrity management, risk assessment,
pipeline compliance, corrosion data management software and engineering
service, and field computer solutions for the world-wide petroleum and
natural gas pipeline industry. More than 150 companies have come to
rely on its turnkey systems capabilities to improve the efficiency,
reliability and safety of their pipeline operations. For more information,
call 303-948-0119 or visit the Bass-Trigon web site at http://www.bass-trigon.com.
About Corrpro Companies: Corrpro, headquartered in
Medina, Ohio, with over 60 offices worldwide, is the leading provider
of corrosion control engineering services, systems and equipment to
the infrastructure, environmental and energy markets around the world.
Corrpro is the leading provider of cathodic protection systems and engineering
services, as well as the leading supplier of corrosion protection services
relating to coatings, pipeline integrity and reinforced concrete structures.
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