Intertek Group Regulatory News (ITRK)

7 Sep 2007 11:18

Intertek Group PLC07 September 2007 Stock Exchange Release 7 September 2007, London, UK Intertek announces the acquisition of Carnot Emission ServicesIntertek Group plc (Intertek), the leading international provider of quality and safety services to a wide range of industries, announces the acquisition of Carnot Emission Services ('Carnot'). The business assets of Carnot, an emissions testing company based in SanAntonio, Texas USA, were purchased from its shareholders Steve Griffin, TimGriffin and Holly Schmidt for cash consideration of USD7.8 million (GBP3.9million). A further cash consideration of up to USD4.5 million (GBP2.2 million)will be payable in August 2008, dependent on performance in the financial yearto June 2008. Carnot provides emissions, certification, audit and compliance testing servicesto manufacturers of engine and off-road equipment. The company is a marketleader in testing for the USA's Environmental Protection Agency ("EPA")emissions and fuel economy regulations and is also one of the world's largestindependent testing organisations for non-road industries. Non-road enginesinclude large spark, small off-road, marine, recreational and agricultural. Carnot will support Intertek's existing service lines in heavy-duty emissionstesting. The company also offers new and complementary services and expertisethat can be cross-sold to existing Intertek customers in the automotive andfuels sectors globally. Wolfhart Hauser, Chief Executive Officer of Intertek, commented: "With the engine emissions testing market evolving under more stringent industryregulations by governmental agencies worldwide, Carnot's business has a greatoutlook as well as bringing complementary services and expertise to our globalnetwork and customer base. Carnot's business drivers match those of Intertek ascustomers seek our support to meet new regulations from greater environmentalawareness globally." -ends- Contacts Aston Swift / Sarah Ogilvie Intertek Telephone: +44 (0) 20 7396 3400 aston.swift@intertek.com / sarah.ogilvie@intertek.com Richard Mountain / Susanne Walker, Financial Dynamics Telephone: +44 (0) 20 7831 3113 richard.mountain@fd.com / susanne.walker@fd.com Notes to Editors ABOUT INTERTEKIntertek (LSE: ITRK) is the leading international provider of quality and safety services to a wide range of global and local industries. Partnership with Intertek brings increased value to customers' products and processes, ultimately supporting their success in the global market place. Intertek has the experience, expertise, resources and global reach to support its customers through its extensive network of laboratories and offices, with over 20,000 people in more than 100 countries around the world. This information is provided by RNS The company news service from the London Stock Exchange