Intertek Group Regulatory News (ITRK)

19 Feb 2008 07:00

Intertek Group PLC19 February 2008 Intertek acquires CML Biotech Limited Intertek Group plc (Intertek), the leading international provider of quality andsafety services to a wide range of industries, announces the acquisition of CMLBiotech Limited (CML), the holding company for the Commercial MicrobiologyGroup, a microbiology testing laboratory and consulting business for the oil andgas industry. Intertek purchased CML from its management shareholders Dr Stephen Maxwell andJohn McCulloch for an initial cash consideration of GBP 8 million and deferredconsideration of approximately GBP 2 million payable in March 2009. CML provides laboratory and consultancy services and sells testing kitsrelated to the measurement and management of bacteria in the upstream oil andgas industry. The business supports oil and gas exploration companies inaddressing bacterial contamination of pipelines and infrastructure used duringproduction, storage, and extraction of oil and gas reserves. The integrity ofpipelines is affected by corrosion caused by bacteria. Bacterial and hygieneservices are also provided for drinking water supplied to offshore platforms and vessels. CML has a strong industry wide reputation for its expertise andexperience in this analytical services sector. While the majority of CML's operations are in the North Sea and Gulf of Mexicomarkets, CML also supports the other main oil and gas provinces, including Northand West Coast Africa, the Caspian Sea and the Middle East. These and other oilreserve regions present growth opportunities for CML and Intertek together. CML has 54 employees in total, based in Aberdeen, Scotland and in Houston, USA,and it will form part of Intertek's Analytical Services division. Wolfhart Hauser, Chief Executive Officer of Intertek, commented:"CML is a valuable addition to our upstream analytical services business. Thebusiness holds a very strong and impressive market position in microbialservices, which will expand the suite of expert services that we deliver as apartner to the oil & gas exploration industry globally". -ends-ContactsAston Swift / Sarah Ogilvie IntertekTelephone: +44 (0) 20 7396 3400aston.swift@intertek.com / sarah.ogilvie@intertek.com Richard Mountain / Sophie Kernon, Financial DynamicsTelephone: +44 (0) 20 7269 7121richard.mountain@fd.com / sophie.kernon@fd.com Notes to Editors From 1 January 2008, Intertek's Analytical Services, previously part of theGroup's Oil Chemical & Agri division, became a standalone division. For furtherdetails of this and the surrounding divisional re-organisation, refer toIntertek's stock exchange announcement of 11 December 2007. ABOUT INTERTEK Intertek (LSE: ITRK) is the leading international provider of quality and safetyservices to a wide range of global and local industries. Partnership withIntertek brings increased value to customers' products and processes, ultimatelysupporting their success in the global market place. Intertek has theexperience, expertise, resources and global reach to support its customersthrough itsextensive network of laboratories and offices, with over 20,000 people in morethan 100 countries around the world.www.intertek.com This information is provided by RNS The company news service from the London Stock Exchange