Intertek Group PLC
22 October 2007
22 October 2007
Intertek acquires Ageus Solutions, an environmental compliance consultancy.
Intertek Group plc (Intertek), the leading international provider of quality and
safety services to a wide range of industries, announces the acquisition of
Ageus Solutions, Inc. ('Ageus') in Canada.
Intertek purchased Ageus from its employee shareholders for an initial cash
consideration of C$1.75 million (GBP0.9 million). Further cash consideration
payable in February and November 2008 is dependent on the financial performance
in the next two financial years. Total consideration is expected to be in the
range of C$5 to 7 million (GBP2.2 to 3.5 million).
Ageus provides environmental compliance and hazardous materials consulting
services for the North American electronics and manufacturing industry. With
headquarters in Ottawa, Canada and with 28 employees, Ageus is a leader in
global environmental regulations such as Waste Electrical and Electronic
Equipment ('WEEE'), Restriction of Hazardous Substance ('RoHS'), Registration,
Evaluation, Authorisation and Restriction of Chemicals ('REACH'), California
Proposition 65, as well as other specific laws and regulations in the EU, US,
China, Canada and Japan. The company also consults with customers around their
own environmental specifications.
Ageus will strengthen Intertek's capabilities in supporting manufacturing and
retail 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 the
concerns of consumers, retailers and manufacturers, as well as new regulations,
to reduce the environmental impact of products. Ageus' strong North American
reputation for expertise in major global environmental compliance protocols
makes it an excellent strategic fit with our global laboratory network and
customer base in the many industries in which Intertek operates'.
-ends-
Contacts
Aston Swift / Sarah Ogilvie Intertek
Telephone: +44 (0) 20 7396 3400
aston.swift@intertek.com / sarah.ogilvie@intertek.com
Richard Mountain / Susanne Yule, Financial Dynamics
Telephone: +44 (0) 20 7269 7121
richard.mountain@fd.com / susanne.yule@fd.com
Notes to Editors
ABOUT INTERTEK
Intertek (LSE: ITRK) is the 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 its extensive network of laboratories and offices, with over 20,000
people in more than 100 countries around the world.
This information is provided by RNS
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