This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Team, Inc. Announces Alignment Into Business Groups

SUGAR LAND, Texas, June 24, 2013 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE:TISI) today announced the alignment of its business activities into business groups designed to drive the Company's next phase of continued long term growth. Effective July 1, 2013, Team's operations will be organized into three business groups, Inspection and Heat Treating Services, Mechanical Services, and Quest Integrity Group.  Each business group will be led by a Business Group President, who will report directly to Phil Hawk, Team's Chairman and CEO.

The organizational changes are expected to provide greater focus and alignment of resources to address customer needs, enhance execution and improve growth opportunities across the entire organization. Each business group will be supported by their own field service group and technical, commercial, manufacturing, and operations support, where appropriate. The repositioning of Quest Integrity Group within Team reflects both its significant growth since joining the Team family nearly three years ago and Team's commitment to continue expansion of its capabilities and innovative new technologies.

Art Victorson, 51, is President, Inspection and Heat Treating Services. Art joined Team in 1997 and most recently served as Senior Vice President, TCM Division. Current revenues for this business group are approximately $375 million.           

Pete Wallace, 50, is President, Mechanical Services. Pete joined Team in 1988 and most recently served as Executive Vice President and Chief Operating Officer. Current revenues for this business group are approximately $275 million.

Jeff Ott, 50, continues as President, Quest Integrity Group, a role he has held since 2007. Current revenues for this group are approximately $60 million.

"Team's revenues have grown at more than a 20% compound average growth rate for the last decade. Our expanding business size and scale now enables us to bring more focus, dedicated resources, and technology applications to the attractive future growth opportunities available in each of our business groups," said Phil Hawk, Team's Chairman. "We expect this increased focus to result in enhanced service capabilities and improved support to our customers."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs