MISTRAS Group Mourns the Passing of Founder & Chairman Emeritus Dr. Sotirios J. Vahaviolos
A visionary leader and pioneer in the field of non-destructive testing (NDT) and acoustic emission (AE), Dr. Vahaviolos founded MISTRAS (originally Physical Acoustics Corporation) in 1978 and dedicated over four decades to building it into a global leader in testing, inspection, and asset protection solutions. His expertise, leadership, and commitment to excellence were instrumental in shaping the company's strategic direction and fostering a culture of innovation that remains at the core of MISTRAS today.
'On behalf of the entire MISTRAS family, I want to express our profound appreciation for the immeasurable contributions Dr. Vahaviolos has made to our company, our shareholders, and the communities we serve,' said Manny Stamatakis, Executive Chairman of the Board of Directors. 'He built a diversified enterprise that now provides jobs to over 5,000 employees across the U.S., Canada, and several other countries. He was a man of honor and integrity, and he will be deeply missed.'
Dr. Vahaviolos and the Board of Directors took careful measures over the years to ensure a seamless transition and continuity of leadership. MISTRAS will continue to operate as planned, with no changes to the company's management or strategic direction.
Prior to founding MISTRAS, Dr. Vahaviolos was a scientist and manager at AT&T Bell Laboratories, where he honed his expertise in electrical engineering and advanced NDT technologies. A distinguished academic, he earned a B.S. in Electrical Engineering (graduating first in his class) from Fairleigh Dickinson University, followed by an M.S., M.Phil., and Ph.D. in Electrical Engineering from Columbia University School of Engineering.
Throughout his career, Dr. Vahaviolos was recognized as a Fellow of the Institute of Electrical and Electronics Engineers (IEEE), the American Society of Nondestructive Testing (ASNT), and the Acoustic Emission Working Group (AEWG). He also served as ASNT's President (1992-1993) and Chairman (1993-1994) and received Gold Medals from ASNT (2001) and AEWG (2005) in recognition of his contributions to the field, in addition to several other accolades from various respected industry and scientific organizations.
Beyond his professional accolades, Dr. Vahaviolos was one of the six founders of NDT Academia International in 2008, further demonstrating his dedication to advancing nondestructive testing worldwide.
The MISTRAS family will be honoring Dr. Vahaviolos' life and legacy in the days ahead. In the meantime, our thoughts and prayers are with his wife, family, and many friends during this difficult time.
About MISTRAS Group, Inc. - One Source for Asset Protection Solutions
MISTRAS Group, Inc. (NYSE: MG) is a leading "one source" multinational provider of integrated technology-enabled asset protection solutions, helping to maximize the safety and operational uptime for civilization's most critical industrial and civil assets.
Backed by an innovative, data-driven asset protection portfolio, proprietary technologies, strong commitment to Environmental, Social, and Governance (ESG) initiatives, and a decades-long legacy of industry leadership, MISTRAS leads clients in oil and gas, aerospace and defense, renewable and nonrenewable power, civil infrastructure, and manufacturing industries towards achieving operational and environmental excellence. By supporting these organizations that help fuel our vehicles and power our society, inspecting components that are trusted for commercial, defense, and spacecraft; building real-time monitoring equipment to enable safe travel across bridges; and helping to propel sustainability, MISTRAS helps the world at large.
MISTRAS enhances value for its clients by integrating asset protection throughout supply chains and centralizing integrity data through a suite of Industrial IoT-connected digital software and monitoring solutions. The company's core capabilities also include non-destructive testing field and in-line inspections enhanced by advanced robotics, laboratory quality control and assurance testing, sensing technologies and NDT equipment, asset and mechanical integrity engineering services, and light mechanical maintenance and access services.
For more information about how MISTRAS helps protect civilization's critical infrastructure and the environment, visit https://www.mistrasgroup.com/.
Contact:Nestor S. MakarigakisGroup Vice President, Marketing and CommunicationsMISTRAS Group, Inc.marcom@mistrasgroup.com+1 (609) 716-4000
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
an hour ago
- Business Upturn
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ITOS, CIO, SNV on Behalf of Shareholders
NEW YORK, July 26, 2025 (GLOBE NEWSWIRE) — Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: iTeos Therapeutics, Inc. (NASDAQ: ITOS)'s sale to Concentra Biosciences, LLC. Under the terms of the proposed transaction, Concentra will acquire iTeos for $10.047 in cash per share, plus one non-transferable contingent value right, representing the right to receive: (i) 100% of the closing net cash of iTeos in excess of $475 million; and (ii) 80% of any net proceeds received from any disposition of certain of iTeos' product candidates that occurs within six months following the closing. If you are an iTeos shareholder, click here to learn more about your rights and options. City Office REIT, Inc. (NYSE: CIO)'s sale to MCME Carell Holdings, LP and MCME Carell Holdings, LLC for $7.00 per share in cash. If you are a City Office shareholder, click here to learn more about your legal rights and options. Synovus Financial Corp. (NYSE: SNV)'s merger with Pinnacle Financial Partners. Under the terms of the proposed transaction, the shares of Synovus and Pinnacle shareholders will be converted into shares of a new Pinnacle parent company based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share. Upon closing of the proposed transaction, Synovus shareholders will own approximately 48.5% of the combined company. If you are a Synovus shareholder, click here to learn more about your legal rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected]. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information:Halper Sadeh LLCDaniel Sadeh, Halper, World Trade Center85th FloorNew York, NY 10007(212) 763-0060 [email protected] [email protected]
Business Upturn
an hour ago
- Business Upturn
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates KLG, OLO, VBTX on Behalf of Shareholders
NEW YORK, July 26, 2025 (GLOBE NEWSWIRE) — Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: WK Kellogg Co (NYSE: KLG)'s sale to The Ferrero Group for $23.00 per share in cash. If you are a Kellogg shareholder, click here to learn more about your legal rights and options. Olo Inc. (NYSE: OLO)'s sale to Thoma Bravo for $10.25 per share in cash. If you are an Olo shareholder, click here to learn more about your legal rights and options. Veritex Holdings, Inc. (NASDAQ: VBTX)'s sale to Huntington Bancshares Incorporated. Under the terms of the agreement, Huntington will issue 1.95 shares for each outstanding share of Veritex. If you are a Veritex shareholder, click here to learn more about your legal rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected]. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information:Halper Sadeh LLCDaniel Sadeh, Halper, World Trade Center85th FloorNew York, NY 10007(212) 763-0060 [email protected] [email protected]
Yahoo
an hour ago
- Yahoo
Why Major Retailers Are Secretly Planning Their Own Stablecoins (and What It Means for Investors)
Key Points Some top retailers are eyeing stablecoins as a way to cut costs, boost profitability, and improve operational efficiency. Retailers can also use stablecoins as part of their branded loyalty programs, or to improve the overall shopping experience. In addition to retailers, a growing number of banks, payment providers, and tech firms plan to issue stablecoins. 10 stocks we like better than Circle Internet Group › The passage of landmark stablecoin legislation this summer could have far-reaching implications beyond just the financial sector. The Genius Act opens the door for nonbanks to issue stablecoins of their own, and that could greatly expand the number of retailers that offer stablecoins to their customers. In June, the Wall Street Journal reported that both Amazon (NASDAQ: AMZN) and Walmart (NYSE: WMT) were secretly planning stablecoins of their own. Presumably, all they needed was the ink to dry on the new stablecoin legislation, and they could get started. Here's why stablecoins could change everything for them. Profitability and cost savings As they say, always follow the money. And the money in this case is the potential cost savings from using stablecoins rather than credit cards for payments. Typically, credit card processing fees are as high as 2%-3% per transaction. So the ability to cut costs by moving everything to blockchain payment technology is certainly alluring. But here's the thing: You need to have enough scale to make any stablecoin project worth it. That's why Amazon and Walmart are two of the most prominent names involved in the stablecoin discussion right now. Quite simply, they are retail behemoths. When you're making billions of dollars in sales, savings of 2%-3% can really rack up. Moreover, there has been discussion that stablecoins could be used to pay employees, logistics partners, and other members of the retail supply chain, especially those located overseas. Imagine tiny cost savings suddenly popping up all over your business by going all-in on blockchain technology. As a result of all these potential cost savings and operational efficiencies, even Visa (NYSE: V) is exploring new projects that leverage stablecoins, including stablecoin-linked cards. In many ways, the writing is on the wall: Stablecoins are coming to retail, in one form or another. A better customer experience Let's assume that the big retail giants are more than just penny-pinching corporations attempting to boost the bottom line. Many of them really do want to create a better customer experience, and stablecoins could play a role here, too. First, they could choose to reinvent their customer loyalty programs to feature stablecoins. Instead of "cash back" at the end of the year, they might be able to offer other incentives that reward customers for using stablecoins at the point of sale. And stablecoins might improve the overall shopping experience. That's because blockchain technology speeds up transaction settlement times, from days to just seconds. This could, for example, vastly improve the speed that you get refunds for purchases. How many times have you requested a refund, and been told, "Oh, it should show up in your account in a few days"? Imagine having access to that money nearly instantaneously. Of course, getting customers to embrace stablecoins might be a tough sell. According to top retail industry analysts, one way to get over the adoption hurdle is by pitching stablecoins as a sort of gift card or branded loyalty card that you would present at the point of sale. You wouldn't need to know anything about blockchain technology, crypto, or how stablecoins actually work. Everything would be seamless, and happen behind the scenes. Implications for investors Undeniably, stablecoins represent a huge step for retailers. They will need a tremendous amount of tech savvy in order to get all the blockchain payment technology working as planned. So why not leave all the heavy lifting to Silicon Valley tech firms, some of whom are also planning to launch new stablecoins? Moreover, as the latest Motley Fool research on stablecoins points out, the largest banks still dwarf even the biggest stablecoin issuers. So why not leave the job of stablecoins to banks and other financial institutions, some of whom have said they plan to launch their own stablecoins soon? All of which leads me to think: Maybe investing directly in retailers is not the best way to play the stablecoin trend. Maybe it's better to invest in tech-savvy companies that have strong retail platforms. You could, for example, invest in PayPal (NASDAQ: PYPL), which launched a stablecoin of its own in August 2023. Or, you could invest in Shopify (NASDAQ: SHOP), which is now offering stablecoin payment options at the point of sale for e-commerce websites. As for me, I'm still focused on stablecoin issuers such as Circle Internet Group (NYSE: CRCL), which went public in June via a splashy initial public offering. Circle is the issuer of USDC (CRYPTO: USDC), which is the second-most popular stablecoin in the world right now, with a market cap of about $65 billion. It's also the stablecoin of choice for Shopify. At the end of the day, stablecoins could turn out to be a classic "make or buy" decision faced by top retailers. Is it better to make your own stablecoin, or simply buy one that already exists from someone else? My guess is that most retailers will opt for the latter. Should you buy stock in Circle Internet Group right now? Before you buy stock in Circle Internet Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Circle Internet Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,774!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,942!* Now, it's worth noting Stock Advisor's total average return is 1,040% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Dominic Basulto has positions in Amazon, Circle Internet Group, and USDC. The Motley Fool has positions in and recommends Amazon, PayPal, Shopify, Visa, and Walmart. The Motley Fool recommends the following options: long January 2027 $42.50 calls on PayPal and short September 2025 $77.50 calls on PayPal. The Motley Fool has a disclosure policy. Why Major Retailers Are Secretly Planning Their Own Stablecoins (and What It Means for Investors) was originally published by The Motley Fool
