Last checked at 8 Jan 2009 07:00
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Stock Exchange Release
8 January 2009, 7am London, UK
Intertek announces two Consumer Goods acquisitions
Intertek Group plc (Intertek), the leading international provider of quality and safety services to a wide range of industries, announces two acquisitions in its Consumer Goods division.
The assets of the Food Facility Audit business (RQA) of RQA Inc, based in Chicago USA, were purchased for a total cash consideration of USD 4.9 million (GBP 3.3 million), dependent on financial performance.
RQA provides facility audits to assess compliance with regulatory, industry, and a company's own quality assurance standards. The company is a leading provider of auditing services to the food industry in North America and holds and provides the necessary key global food industry accreditations and certifications. RQA has 5 full-time employees and a work-force of around 100 contract-based auditors. RQA will enhance Intertek's global food auditing services, adding capacity in North America in particular.
Porst and Partners GmbH (Porst), a testing and analytical laboratory near Nürnberg in Germany with 35 employees, was purchased from its management shareholders for a total cash consideration of EUR 2.5 million (GBP 2.4 million), dependent on financial performance.
Porst provides chemical, physical and microbiological testing and some environmental site testing covering consumer products ranging from toys, textiles, and accessories to food. Porst also advises clients on compliance to EU restricted substances regulations including RoHS and REACH. Porst's clients include major German international consumer goods brands and local manufacturers that are both selling in or sourcing from Germany, Austria and Switzerland. As part of Intertek, Porst will also be able to support German, Austrian and Swiss companies exporting to the US in meeting the new US consumer product safety laws.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
"These two acquisitions complement our Consumer Goods business and operate in markets that are expanding despite the current economic climate. Demand for food auditing services continues to grow, driven by the need of retail brands to demonstrate compliance with increasing food regulations worldwide and as brands seek to avoid high profile recalls by increasing their auditing of suppliers. Regulation and heightened consumer concern about product safety continue to drive demand for quality and safety-related services for consumer goods."
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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 / Sophie Kernon, Financial Dynamics
Telephone: +44 (0) 20 7269 7121
richard.mountain@fd.com / sophie.kernon@fd.com
Notes to Editors
ABOUT INTERTEK
Intertek (LSE: ITRK) is a leading provider of quality and safety solutions serving a wide range of industries around the world. From auditing and inspection, to testing, quality assurance and certification, Intertek people are dedicated to adding value to customers' products and processes, supporting their success in the global marketplace. Intertek has the expertise, resources and global reach to support its customers through its network of more than 1,000 laboratories and offices and over 23,000 people in 110 countries around the world.
www.intertek.com
Copyright Business Wire 2009