FRP tank inspection program saves $33 million

March 13, 2024

An ounce of prevention is worth a pound of cure

Time and resources are limited for all companies, no matter how big or small.

Simply replacing a 20-year-old FRP tank according to schedule or that you’re not sure about might seem like the right choice.

Or, when a piece of equipment has never given you any trouble, why budget for an “expensive” inspection when that money could be spent elsewhere?

It’s worth remembering Benjamin Franklin’s advice from the 1730s: “an ounce of prevention is worth a pound of cure.”

Now, he was talking about fire prevention — not FRP asset management — but the fundamental wisdom of his words still applies to the challenges faced by FRP asset owners every day.

Maximizing the lifespan and performance of FRP equipment involves striking a balance between proactive and reactive measures needed to identify and remediate damage today in order to avoid bigger, more expensive and possibly disastrous problems in the future.

So how do we put a price tag on preventing something that could happen next week, or in 10 years, or might never happen at all?

The UltraAnalytix® NDT system has proven its value time and again helping companies worldwide ensure the Fitness For Service of thousands of FRP assets, while saving them millions of dollars in unnecessary shutdown and replacement costs. 

Investing in preventative maintenance is good for your bottom line. Here’s one example:

FRP tank inspection slashes replacement costs  

One of our valued clients is a global chemical and food processing company with annual sales over $3 billion. 

Their previous approach to FRP asset management called for replacing most of their process and storage vessels every 15 years, and every seven years for equipment in critical service such as hydrochloric acid. 

Over a three-year-period, UTComp inspected more than 200 tanks ranging in age from brand new to 35 years with our UltraAnalytix NDT system.

FRP Assessment Results:

  • Only 7 of the 200+ tanks needed replacing.
  • Projected remaining service life for most of the tanks ranged from several years to more than 30 years.

Client Savings:

  • Over $33 million, based on the client’s planned replacement schedule. 
  • This includes the cost of new tanks only, and does account for installation or customization work required or the removal of old equipment.

Cost of UltraAnalytix inspection:

  • Less than 1% of the estimated savings.

Questions about your FRP assets? Book a call today!

Learn more about evaluating Fitness For Service of FRP composite assets: Get our FREE FRP Assessment Guidebook.

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