Intertek acquires Laboratory Services International B.V (LSI) Mineral Laboratory
26 Nov 2012
Intertek Group plc (Intertek), a leading provider of quality and safety services to a wide range of industries worldwide, announces that it has acquired 75% of the issued capital of LSI, a global minerals reference testing laboratory.
The shareholding was purchased from LSI's management shareholders for a cash consideration of EUR 5 million (GBP 4 million).
LSI supports vendors and buyers of mineral consignments globally with analytical testing of traded minerals as a worldwide reference laboratory. As a LME (London Metal Exchange) approved facility, LSI is used by customers around the world to ascertain precise minerals values when settling commercial trades of minerals.
Demand for LSI’s services is driven by global minerals trading activity. As a leading international reference testing laboratory, LSI will enhance Intertek's existing minerals services by extending world-class trade verification services to all our customers.
LSI is located in Rotterdam, Netherlands with 27 full-time employees. The company will form part of Intertek's Commodities division.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
"LSI adds new world-class trade reference testing capabilities to our minerals business within our Commodities division with an excellent reputation for precision and customer service. We are pleased to welcome LSI and its team of experts to Intertek."
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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, FTI Consulting
Telephone: +44 (0) 20 7269 7186
richard.mountain@fticonsulting.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 33,000 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.