Intertek Group PLC
16 January 2007
Intertek Group plc (Intertek) announces the acquisition of two oil and gas
testing and consultancy businesses
Intertek, a leading international provider of quality and safety services to a
wide range of industries, announces that its Oil, Chemical and Agri division
(Caleb Brett) has made two acquisitions. Umitek Limited was acquired for £10.0
million and CB Iberica, of which Intertek previously owned 4.7%, was acquired in
full for €8.5 million (£ 5.7 million). Both acquisitions were in cash from the
owner managers.
Umitek, based in Manchester and Aberdeen in the UK, provides specialist testing
and consultancy services to the oil and gas industries in the North Sea and
globally.
CB Iberica, based in Bilbao, Spain and with laboratories throughout the
peninsula, provides technical inspections and fuel analysis services to
petroleum, chemical and fuel retailer clients.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
'Umitek and its subsidiaries, CAPCIS and Smith Rae Energy Associates (SREL) are
leading service providers in their respective industries. CAPCIS is a high
technology industrial services company offering specialised materials and
corrosion analysis as well as upstream oil and gas testing. SREL is an industry
leading oil flow measurement consultancy. These businesses will allow us to
extend the services we offer in the North Sea and the Middle East.'
'CB Iberica, a company with whom we have had a close relationship for some
years, is a leading testing and inspection business in Spain and Portugal. This
acquisition provides us with the opportunity to build our presence in this
important area, extending our existing European offering.'
Contacts
Aston Swift, Intertek
Telephone: +44 (0) 20 7396 3400
aston.swift@intertek.com
Richard Mountain, Financial Dynamics
Telephone: +44 (0) 20 7831 3113
richard.mountain@fd.com
High resolution images of Intertek Group plc businesses are available to
download, free of charge from www.vismedia.co.uk
About Intertek
Intertek (FTSE:ITRK) 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 910 laboratories and offices, 17,400 people in 110
countries around the world.
www.intertek.com
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