Over a period of four decades, a business will experience many different phases. For the energy industry, the most recent has been a cycle of low oil prices which, in turn, has resulted in tough times for companies specialising in the sector. Dietsmann, however, knows exactly how to enter a down cycle such as this with money in the bank. Thanks to its strong balance sheet, it can transform a potential crisis into an opportunity. For example, it has managed to gain market share in most oil-producing countries in Central, West, East, and North Africa; the Caspian Sea region; Russia; and Latin America; convincing clients over new—often disruptive—cost-saving ideas and technologies that, in times of high oil prices, are difficult to sell.
In addition, its power utility clients generally benefit from low oil and gas prices, and Dietsmann fares well from this counter-cyclic mitigating factor.
The business is well tuned at identifying exciting opportunities to achieve its objectives of sustainable growth.
The CEO Magazine spoke to Dietsmann founder and CEO Peter Kütemann to find out more.
The CEO Magazine: What is your professional background and what led you to found Dietsmann in 1977?
Peter: I have an educational background in electro/mechanical engineering. After working for some years as a technician and later as commercial manager at a Dutch technical service company, in 1976, I started my own business called Kutemann Industrial Services, providing specialist personnel for the major turbine overhaul of Dutch power utilities and the Royal Dutch Navy. I looked with keen interest at the development of oil and gas activities in the Dutch sector of the North Sea. There were virtually no Dutch companies providing maintenance services to the growing Dutch North Sea oil and gas activities, so I decided to get into that market. When I scored my first little contract, I decided to form a special company for that, calling it Dietsmann.