Intertek Group PLC
05 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 and
safety services to a wide range of industries, announces two acquisitions.
Intertek has acquired ASTA BEAB, the UK-based owner of the ASTA and BEAB
electrical product certification marks, and Union Lab, the Singaporean petroleum
testing and inspection company.
The business and assets of ASTA BEAB, including the ASTA and BEAB marks were
acquired for GBP4.4 million in cash. The ASTA mark is one of the compulsory
certification marks for plugs sold or imported into the UK, while the BEAB mark
is used on household electrical products. In addition to testing and certifying
electrical products for home and business use, ASTA BEAB offers systems
certification services. The marks are applied by global and local manufacturers
to demonstrate that their products comply with UK quality and safety standards.
The acquisition further strengthens Intertek's ability to provide manufacturers
with seamless global market access and these marks add to Intertek's global
certification mark portfolio. This includes its own ETL, S and Warnock Hersey
quality and safety marks, as well as its certifications for the European CE and
GS marks among others.
Union Lab was purchased from its shareholders K Pereira and T Hay Hoen for an
initial cash consideration of SGD$5.0 million (GBP1.6 million). Further cash
consideration of up to SGD$0.5 million (GBP0.2 million) is payable in March
2008, dependent on performance in 2007. Union Lab deepens Intertek's leading
market position in petroleum products testing and inspection services in the
Asia Pacific region and the key international petroleum transportation hub of
Singapore.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
'We are pleased to announce these two acquisitions, reflecting our commitment to
pursuing opportunities to expand our services to specific industries through
strategic acquisitions. We look forward to the advantages that these businesses
will bring in strengthening our performance in existing markets and in key
locations 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 INTERTEK
Intertek 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 System
Certification. It provides high quality expert services which ensure that
products entering the market meet the required safety standards. The ASTA and
BEAB marks are applied by leading manufacturers to demonstrate that their
products comply with quality and safety standards. The ASTA mark is one of the
compulsory marks for plugs sold or imported into the UK to be tested and marked
by a third-party, in addition to any EU requirements. The ASTA mark is one of
three leading marks in this area, while the BEAB mark is more widely used on
household 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, bunker
quality control programmes, and consultancy in terminal design (land and
floating storage) and operations.
This information is provided by RNS
The company news service from the London Stock Exchange
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