Intertek Group Plc (ITRK) - Acquisition
RNS Number : 9359R
Intertek Group PLC
26 November 2012
Intertek acquires Laboratory Services International B.V (LSI) Mineral
Intertek Group plc (Intertek), a leading provider of quality and safety
services to a wide range of industries worldwide, announces that it has
acquired 75% of the issued capital of LSI, a global minerals reference testing
The shareholding was purchased from LSI's management shareholders for a cash
consideration of EUR 5 million (GBP 4 million).
LSI supports vendors and buyers of mineral consignments globally with
analytical testing of traded minerals as a worldwide reference laboratory. As
a LME (London Metal Exchange) approved facility, LSI is used by customers
around the world to ascertain precise minerals values when settling commercial
trades of minerals.
Demand for LSI's services is driven by global minerals trading activity. As a
leading international reference testing laboratory, LSI will enhance
Intertek's existing minerals services by extending world-class trade
verification services to all our customers.
LSI is located in Rotterdam, Netherlands with 27 full-time employees. The
company will form part of Intertek's Commodities division.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
"LSI adds new world-class trade reference testing capabilities to our minerals
business within our Commodities division with an excellent reputation for
precision and customer service. We are pleased to welcome LSI and its team of
experts to Intertek".
Aston Swift / Sarah Ogilvie Intertek
Telephone: +44 (0) 20 7396 3400
email@example.com / firstname.lastname@example.org
Richard Mountain, FTI Consulting
Telephone: +44 (0) 20 7269 7186
Corporate website: www.intertek.com
Intertek is a leading provider of quality and safety solutions serving a wide
range of industries around the world.
From auditing to inspection, to testing, quality assurance and certification,
Intertek people are dedicated to adding value to customers' products and
processes, supporting their success in the global marketplace.
Intertek has the expertise, resources and global reach to support its
customers through its network of more than 33,000 people in over 1,000
laboratories and offices in more than 100 countries.
Intertek Group plc (LSE: ITRK) is listed on the London Stock Exchange and is a
constituent of the FTSE 100 index.
This information is provided by RNS
The company news service from the London Stock Exchange
ACQEAKFDALAAFFF -0- Nov/26/2012 07:00 GMT
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