15th Feb 2016 09:08
LONDON (Alliance News) - Testing and calibration services company Exova Group PLC on Monday said it has acquired a majority stake in Singapore-based Admaterials Technologies Pte Ltd, which provides testing and certification services to the construction sector.
In addition to the construction sector, Admaterials also provides chemical, environmental and mechanical testing services to both private sector and government clients.
It makes around GBP3.5 million a year in revenue, Exova said. No financial details on the acquisition were disclosed.
"Acquiring Admaterials gives us expertise in the local construction sector, complements our existing operations in Singapore and offers a great foundation for further growth in the region," said Ian El-Mokadem, Exova's chief executive.
Exova shares were up 2.5% to 132.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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