Intertek Group Share News (ITRK)

LONDON (Alliance News) - FTSE 100-listed Intertek Group PLC announced Monday the acquisition of Maltese cargo inspection company Aldo Abela Surveys Ltd.

Intertek, a quality assurance firm, did not give any financial details for the takeover.

AAS posted revenue in 2017 of approximately EUR770,000, Intertek said, and its service portfolio includes custody transfer of liquid cargoes, bunker surveys, loading & unloading, and bulk cargo inspections.

"The acquisition of AAS will expand our quality inspections footprint in the Mediterranean region and will further strengthen Intertek Caleb Brett as the leader in providing total quality assurance to the cargo industry worldwide," Chief Executive Andrew Lacroix said.

"We are very pleased to welcome AAS and its highly trained people to Intertek and look forward to seizing the compelling structural opportunities in the industry together," Lacroix added.

Shares in Intertek were down 0.2% on Monday at 5,040.00 pence each.