Last checked at 5 Apr 2012 07:00
Intertek acquires Automation Technology Inc (ATI)
Intertek Group plc (Intertek), the leading international provider of quality services to a wide range of industries, announces that it has acquired ATI, a provider of asset integrity support services in the US power sector.
The company was purchased from its management shareholders for a total consideration of USD 16 million (GBP 10 million).
ATI's asset management software solutions are used to record and collate testing and inspection data to support the maintenance of power generation infrastructure. It helps companies to track infrastructure integrity and to develop effective plans to reduce failure risk and optimise maintenance work during scheduled outage periods.
Power and energy companies are investing more in solutions such as those of ATI which help to regulate and manage their maintenance programmes as they continue to increase investment in existing and new infrastructure to meet growth in energy demand.
ATI will complement Intertek's existing quality and integrity management services for owners and operators of power, oil, gas, petrochemical, renewable energy and other infrastructure. The company is based in California, USA and will form part of Intertek's Industry & Assurance division.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
"We are pleased to welcome the company to the Group. ATI's solutions are highly complementary to our wider Industry Services portfolio and will deepen our support to customers in maintaining the quality of their assets."
Contacts
Aston Swift / Sarah Ogilvie Intertek
Telephone: +44 (0) 20 7396 3400
aston.swift@intertek.com / sarah.ogilvie@intertek.com
Richard Mountain, FTI
Telephone: +44 (0) 20 7269 7121
richard.mountain@fti.com
Corporate website: www.intertek.com
About Intertek
Intertek is a leading provider of quality and safety solutions serving a wide range of industries around the world.
From auditing to 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 30,000 people in over 1,000 laboratories and offices in more than 100 countries.
Intertek Group plc (LSE: ITRK) is listed on the London Stock Exchange and is a constituent of the FTSE 100 index.