Acquisition

22 Oct 2007 11:31

Intertek Group PLC22 October 2007 22 October 2007 Intertek acquires Ageus Solutions, an environmental compliance consultancy. Intertek Group plc (Intertek), the leading international provider of quality andsafety services to a wide range of industries, announces the acquisition ofAgeus Solutions, Inc. ('Ageus') in Canada. Intertek purchased Ageus from its employee shareholders for an initial cashconsideration of C$1.75 million (GBP0.9 million). Further cash considerationpayable in February and November 2008 is dependent on the financial performancein the next two financial years. Total consideration is expected to be in therange of C$5 to 7 million (GBP2.2 to 3.5 million). Ageus provides environmental compliance and hazardous materials consultingservices for the North American electronics and manufacturing industry. Withheadquarters in Ottawa, Canada and with 28 employees, Ageus is a leader inglobal environmental regulations such as Waste Electrical and ElectronicEquipment ('WEEE'), Restriction of Hazardous Substance ('RoHS'), Registration,Evaluation, Authorisation and Restriction of Chemicals ('REACH'), CaliforniaProposition 65, as well as other specific laws and regulations in the EU, US,China, Canada and Japan. The company also consults with customers around theirown environmental specifications. Ageus will strengthen Intertek's capabilities in supporting manufacturing andretail clients in complying with the new REACH legislation in particular. Wolfhart Hauser, Chief Executive Officer of Intertek, commented: "Environmental compliance is a rapidly growing market. It is driven by theconcerns of consumers, retailers and manufacturers, as well as new regulations,to reduce the environmental impact of products. Ageus' strong North Americanreputation for expertise in major global environmental compliance protocolsmakes it an excellent strategic fit with our global laboratory network andcustomer base in the many industries in which Intertek operates". -ends- Contacts Aston Swift / Sarah Ogilvie IntertekTelephone: +44 (0) 20 7396 3400aston.swift@intertek.com / sarah.ogilvie@intertek.com Richard Mountain / Susanne Yule, Financial DynamicsTelephone: +44 (0) 20 7269 7121richard.mountain@fd.com / susanne.yule@fd.com Notes to Editors 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 its extensive network of laboratories and offices, with over 20,000people in more than 100 countries around the world. This information is provided by RNS The company news service from the London Stock Exchange