Intertek Group Regulatory News (ITRK)

1 Aug 2007 14:01

Intertek Group PLC01 August 2007 Stock Exchange Release 1 August 2007, 14:00pm: London, UK Intertek announces an acquisition and new outsourcing dealsIntertek Group plc (Intertek), the leading international provider of quality and safety services to a wide range of industries, announces the acquisition of Product Quality Partners Inc (QP) and two new outsourcing deals with Imperial Chemical Industries plc ('ICI') and Eastman Kodak Company. QP was purchased from its shareholders Debra and Tom Hodgens for cashconsideration of USD8.25 million (GBP4.1 million). QP provides consultancy,testing and certification services to major wireless and mobile applicationproviders, network carriers, and handset and accessory manufacturers. Thecompany has around 30 employees and has operations in the USA in Texas,Illinois, New Jersey and California. QP is recognised as a leader in North America in wireless device and application testing and supports manufacturers with specialised services to achieve interoperability and carrier network compatibility. Intertek is already a leader in mobile device testing in North America. QP's expertise will enhance its service-offering in the area of application testing for mobile devices. ICI, one of the world's major coatings, adhesives, starch and synthetic polymers businesses, has awarded Intertek a four-year outsourcing contract for analytical laboratory services. As part of the deal, Intertek has acquired the business assets of ICI's Measurement Science Group (MSG) for a total cash consideration of GBP7.8 million. All 42 current MSG staff will transfer to Intertek. MSG's operations will add to Intertek's global network of analytical and measurement services. Located in Teesside, UK, MSG has extensive capabilities and expertise in chemicals, polymers, and pharmaceuticals and can support European and global markets. Kodak's Eastman Gelatine Corporation has agreed to outsource analytical testing laboratory services in Massachusetts, USA to Intertek for three years. Under the agreement, six employees will transfer to Intertek. Wolfhart Hauser, Chief Executive Officer of Intertek, commented:"These three deals demonstrate Intertek's commitment to increasing the breadth and depth of services provided to our customers. The combination of strategic acquisitions and new outsourcing relationships allow us to add new expertise and resources into our global network to support demand from customers". -ends- Contacts Aston Swift / Sarah Ogilvie IntertekTelephone: +44 (0) 20 7396 3400aston.swift@intertek.com / sarah.ogilvie@intertek.com Richard Mountain / Susanne Walker, Financial DynamicsTelephone: +44 (0) 20 7831 3113richard.mountain@fd.com / susanne.walker@fd.com Notes to Editors ABOUT INTERTEK Intertek (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 their network of 980 laboratories and offices, over 19,000 people in 109 countries around the world. This information is provided by RNS The company news service from the London Stock Exchange