REG - Intertek Group Plc - Acquisition
Stock Exchange Release
10 September 2012, 7am London, UK
Intertek acquires NDT Services Limited
Intertek Group plc (Intertek), the leading international provider of quality services to a wide range of industries, announces that it has acquired Materials Testing & Inspection Services Limited and its operating subsidiary NDT Services Limited (NDT), a provider of non-destructive testing services to the energy, petrochemical, power and aerospace industries.
The company was purchased from its management shareholders for a cash consideration of GBP 17 million.
NDT's non-destructive testing is used by companies to assess the integrity and reliability of a range of industrial components being manufactured or on installations. NDT helps clients to identify flaws or defects in aircraft, pipeline, power station, refinery and oil platform components to assess their projected lifespan in order to reduce the risk of failure and disruption to operations.
Demand for NDT's services is driven by increasing regulation and standardisation of components, new and ageing infrastructure and industrial products, and by increased investment in quality assurance by companies to reduce operational and reputational risks. NDT holds key industry accreditations and is a leading European provider of non-destructive testing to the aerospace industry and is a prominent operator in the power sector.
NDT has 130 full-time employees and is located in the UK, with headquarters in Derby and sites near Bristol and Birmingham. The company will form part of Intertek's Industry & Assurance division.
Wolfhart Hauser, Chief Executive, Intertek Group plc, commented:
"NDT has a strong reputation and market position and we are pleased to welcome the company to Intertek. Building on our Moody acquisition, this acquisition enhances our existing services to our energy, petrochemical, power and aerospace clients and reflects our strategy of continually expanding our capabilities to meet the full quality needs of clients in each industry".
Aston Swift / Sarah Ogilvie Intertek
Telephone: +44 (0) 20 7396 3400
firstname.lastname@example.org / email@example.com
Richard Mountain, FTI
Telephone: +44 (0) 20 7269 7291
Corporate website: www.intertek.com
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.
This information is provided by RNS