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Quest Reliability purchase MPT Solutions - August 1st 2006
US-based Quest Reliability LLC. has purchased MPT Solutions from Industrial Research Ltd; establishing a consultancy, research and technology base in Australasia to support its global operations.
MPT Solutions' Wellington operations, comprising 25 staff will remain at Industrial Research's Gracefield site, with a long-term lease taken for its existing premises.
Quest is now actively seeking to recruit another five to seven mechanical and materials engineers for this business.
It was realised that a strategic investor was needed to enable MPT Solutions to gain broader access to global market opportunities. MPT Solutions needed to adopt a strong growth and more geographically diversified strategy to be internationally viable into the future.
This growth must be founded on the development of the product and service offering to the New Zealand and Australian markets in parallel with the development of new markets beyond this region.
Quest will provide the significant investment in people, systems and equipment necessary to maximise the potential of the business.
This arrangement also ensures that New Zealand industries have enhanced access to the latest global technologies while continuing to build on local expertise.
Chief Executive of Quest, Milton Altenberg, said his company saw New Zealand as an ideal research base for both developing knowledge and converting that technology into services and products for global commercialisation.
"Quest currently has a highly specialised technology development operation which we want to expand to meet the broader market opportunities that we have identified.
We are committed to making the Wellington office the regional head office for the expanded business, encompassing our southern hemisphere operations."
In terms Quest's wider alliance with Industrial Research, Mr Altenberg identified that Industrial Research had a huge world-class research and development resource base to jointly develop other products and technologies.
"Industrial Research is unique in terms of the breadth and depth of disciplines across nine technology platforms all located on one site in Lower Hutt."
"We're buying into Kiwi ingenuity," he said.
Quest is currently pursuing proposals for several joint projects with Industrial Research and MPT Solutions to develop a diversity of products for the energy, petrochemical and aerospace sectors.
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Last Updated
August 1, 2006
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