Intertek Group PLC
07 June 2007
7 June 2007, 11:00am (UK)
Intertek acquires pharmaceutical testing company Quantitative Technologies Inc
(QTI)
Intertek Group plc (Intertek), a leading international provider of quality and
safety services to a wide range of industries, announces the acquisition of
Quantitative Technologies Inc (QTI), a US-based pharmaceutical testing company,
for USD20.0 million (GBP10.0 million) in cash from its shareholders C Bacon, P
Winslow and R Meyer. A further cash consideration of up to USD5.0 million
(GBP2.5 million) will be payable in March 2008, dependent on performance in
2007.
QTI, based in New Jersey, will further Intertek's growth in the provision of
expert analytical support services to the global pharmaceutical, medical device
and drug delivery industries. It joins Intertek's existing pharmaceutical
laboratory network across the UK, Europe, and the recently-acquired Alta
bio-analytical laboratories in California, USA.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
'We are delighted with this acquisition which follows a number of acquisitions
made already this year across a variety of industries in Australia, Singapore,
Finland and the UK. QTI improves our offering in analytical testing and support
to the pharmaceutical and biotechnology industry and our provision of a global
service.'
-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 7831 3113
richard.mountain@fd.com / susanne.yule@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 QTI
QTI is an eminent contract analytical research and development laboratory,
serving the pharmaceutical, medical device and drug delivery industry in North
America for over 15 years. Specialising in the pre-market launch stages of the
drug and product development life cycle, QTI is located in Whitehouse, New
Jersey, with approximately 60 staff and counts major global pharmaceutical
companies among its clients. The laboratory is highly regarded for technical
expertise, rigorous compliance programmes, and outstanding customer service - it
is a current Good Manufacturing Practice (cGMP) facility in good standing with
the FDA.
This information is provided by RNS
The company news service from the London Stock Exchange
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