DUDLEY, UK - NACE International has appointed Chris Fowler, Global Corrosion Director of testing company Exova, to be the European Coordinator and UK Executor of its multinational IMPACT study into corrosion costs and preventative strategies.
The global cost of corrosion currently represents an average three percent of GDP in most developed countries. The IMPACT (International Measures of Prevention, Application, and Economics of Corrosion Technologies) study will be the most comprehensive ever carried out on the direct and indirect costs of corrosion.
Fowler’s role will be to encourage participation and gather data for analysis from throughout the UK and Europe. He will also lead a team that will correlate and assess UK-specific information. Fowler noted, “This is an important study that will verify and update the last U.S. study in 2002 by involving the world’s largest economies and focusing on both the fiscal impact and the actions required to mitigate the risk posed by corrosion.
“The financial impact of global corrosion is estimated at $2 trillion, with reworking in the field representing anything from 10 to 100 times the original cost. The long-term answer has to lie with prevention rather than repair and replacements of assets. IMPACT’s outcome will provide data to inform forward plans, regulations and education that will enable companies to make decisions now on investment that will ultimately make a real difference in the future.”