Intertek Group Regulatory News (ITRK)

5 Jun 2007 13:30

Intertek Group PLC05 June 2007 Stock Exchange Release 5 June 2007, 1:30pm (UK) Intertek announces two acquisitions Intertek Group plc (Intertek), a leading international provider of quality andsafety services to a wide range of industries, announces two acquisitions.Intertek has acquired ASTA BEAB, the UK-based owner of the ASTA and BEABelectrical product certification marks, and Union Lab, the Singaporean petroleumtesting and inspection company. The business and assets of ASTA BEAB, including the ASTA and BEAB marks wereacquired for GBP4.4 million in cash. The ASTA mark is one of the compulsorycertification marks for plugs sold or imported into the UK, while the BEAB markis used on household electrical products. In addition to testing and certifyingelectrical products for home and business use, ASTA BEAB offers systemscertification services. The marks are applied by global and local manufacturersto demonstrate that their products comply with UK quality and safety standards.The acquisition further strengthens Intertek's ability to provide manufacturerswith seamless global market access and these marks add to Intertek's globalcertification mark portfolio. This includes its own ETL, S and Warnock Herseyquality and safety marks, as well as its certifications for the European CE andGS marks among others. Union Lab was purchased from its shareholders K Pereira and T Hay Hoen for aninitial cash consideration of SGD$5.0 million (GBP1.6 million). Further cashconsideration of up to SGD$0.5 million (GBP0.2 million) is payable in March2008, dependent on performance in 2007. Union Lab deepens Intertek's leadingmarket position in petroleum products testing and inspection services in theAsia Pacific region and the key international petroleum transportation hub ofSingapore. Wolfhart Hauser, Chief Executive Officer of Intertek, commented: "We are pleased to announce these two acquisitions, reflecting our commitment topursuing opportunities to expand our services to specific industries throughstrategic acquisitions. We look forward to the advantages that these businesseswill bring in strengthening our performance in existing markets and in keylocations to further enhance the Group's performance." -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 is a 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 930 laboratories and offices, over 18,000 people in 109 countries around the world. ABOUT ASTA BEAB ASTA BEAB is a leading provider of global Product and Management SystemCertification. It provides high quality expert services which ensure thatproducts entering the market meet the required safety standards. The ASTA andBEAB marks are applied by leading manufacturers to demonstrate that theirproducts comply with quality and safety standards. The ASTA mark is one of thecompulsory marks for plugs sold or imported into the UK to be tested and markedby a third-party, in addition to any EU requirements. The ASTA mark is one ofthree leading marks in this area, while the BEAB mark is more widely used onhousehold products. Intertek is the main testing supplier for ASTA BEAB. ABOUT UNION LAB Union Lab, a key local petroleum testing and inspection company in Singapore,specialises in fuel oil testing and inspection, shipboard blending, bunkerquality control programmes, and consultancy in terminal design (land andfloating storage) and operations. This information is provided by RNS The company news service from the London Stock Exchange