Last checked at 4 Mar 2013 07:30
Stock Exchange Release
4 March 2013, 7.30am London, UK
Intertek announces two acquisitions for GBP 7 million
Intertek Group plc (Intertek), the leading quality solutions provider to industries worldwide, announces the completion of two acquisitions.
E-TEST Laboratorio de Ensaios e Tecnologia Ltda (E-Test)
Intertek has acquired 85% of the issued capital of E-Test, a Brazilian toy and consumer products testing laboratory. The shareholding was purchased from E-Test's management shareholders for a total cash consideration of up to BRL 20.4 million (GBP 6.6 million).
E-Test's capabilities include the physical and chemical testing of toys and other hardline consumer products such as school, baby and party products, electronic toys and bicycles. E-Test is accredited by Brazil's National Institute of Metrology, Quality and Technology (INMETRO) to test products to national mandatory standards, and will complement Intertek's existing laboratories in Asia that test to Brazilian standards. Demand for E-Test's services is driven by growing demand for high quality products from Brazilian consumers. In addition, E-Test supports global consumer product companies who are selling products in the country.
E-Test is located near Sao Paulo with 33 full-time employees. The company will form part of Intertek's Toys & Hardlines Business Line within the Consumer Goods division.
Food Safety Assessment (FSA)
Intertek has also acquired FSA, a food assurance services company, based in Johannesburg, South Africa. FSA was acquired for a cash consideration of ZAR 6.2 million (GBP 0.5 million) from its management shareholders, and extends Intertek's capabilities in its Food & Agri Business Line within the Group's Industry & Assurance division.
FSA's services help the food industry to increase quality assurance and visibility along the supply chain. Its customers include some of South Africa's major food retailers, restaurants and suppliers as well as key global retailers with a presence in the Southern African region.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
"These two acquisitions further complement Intertek's portfolio of global quality solutions. E-Test allows us to increase our support to local companies and to our international customers who are producing or selling products in Brazil, while FSA further extends our global food supply chain services in Southern Africa."
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Contacts
Aston Swift / Sarah Ogilvie Intertek
Telephone: +44 (0) 20 7396 3400
aston.swift@intertek.com / sarah.ogilvie@intertek.com
Richard Mountain, FTI Consulting
Telephone: +44 (0) 20 7269 7186
richard.mountain@fticonsulting.com
Corporate website: www.intertek.com
About Intertek
Intertek is the leading quality solutions provider to industries worldwide. From auditing and inspection, to testing, training, advisory, quality assurance and certification, Intertek adds value to customers' products, processes and assets. With a network of more than 1,000 laboratories and offices and over 35,000 people in more than 100 countries, Intertek supports companies' success in a global marketplace. Intertek helps its customers to meet end users' expectations for safety, sustainability, performance, integrity and desirability in virtually any market worldwide. Visit www.intertek.com
Intertek Group plc (LSE: ITRK) is listed on the London Stock Exchange and is a constituent of the FTSE 100 index.