A major Canadian Energy company recently shut down a natural gas processing facility in Alberta. Veracity Asset Management Group was engaged to help to maximize the value of surplus assets, equipment and inventory from the site. Veracity conducted a full site inventory and provided a comprehensive list of items that would provide a return above scrap value, including everything from valves and motors to forklifts, blowers and compressors. The information provided by Veracity assisted the customer’s Asset Recovery Team in transferring assets to other facilities, significantly alleviating the need for additional purchases. Veracity was then contracted to market and sell the remaining equipment and inventory, ultimately providing the customer with significant financial return.
The loss of a transformer is a serious concern for utility generation providers as the costs and loss of revenue can be staggering. Production lead times for a new transformer can often exceed 18 months. In order to mitigate this risk, a large Western Canadian Utility contracted Veracity to assist in the search for a spare generation step-up (GSU) transformer, to be located on site. By reaching out to a wide network of providers, Veracity was able to locate a unit that met all of the customer’s specifications and was available immediately, at half the cost of procuring a new unit.
Veracity was recently engaged by an Ontario LDC to assist with the sale and removal of all equipment at three municipal substations. On these types of projects, Veracity will confirm the scope of work with the LDC and find qualified buyers who will purchase and remove the equipment following the LDC’s contract and safety policies. Veracity successfully turns expected decommissioning costs into positive returns. Once client resource time is factored in, it is easy to see how the Veracity Difference adds value!