10th Jul 2007 14:00
Intertek Group PLC10 July 2007 10 July 2007, 14:00pm (UK) Intertek announces two acquisitions Intertek Group plc (Intertek), a leading international provider of quality andsafety services to a wide range of industries, announces two acquisitions: V.I.PCargo Surveys, Inc (VIP) a petroleum inspection and testing company located inTexas, USA; and Geotechnical Services Pty. Ltd (Geotech), a petroleum laboratoryservices company located near Perth, Australia. Geotech was purchased from its shareholders Dr Birgitta Hartung-Kagi and DrRobert Ian Kagi for cash consideration of AUD6.0m (GBP2.6m). Geotech provides awide range of chemical analysis, petrophysical testing and consultancy servicesto the upstream & downstream petroleum, petrochemical and mining industries,Government bodies and consultancies, both in Australia and internationally.Geotech will extend Intertek's global upstream laboratory network and willoperate alongside other Intertek laboratories in Australia in the oil, gas,agricultural and minerals industries. The business assets of VIP were purchased from the current sole shareholder andCEO, William Vaden, for an initial cash consideration of USD2.0m (GBP1.0m)further cash consideration of up to USD1.0m (GBP0.5m) is payable in March 2008,dependent on performance in 2007. VIP provides support to oil companies alongthe Texan Gulf coast, which is a major route for cargo tankers. Specialising inship to ship transfer (lightering), cargo inspection and terminal and pipelinesupport, VIP will increase the breadth and depth of Intertek's on-shore andoff-shore services to major oil companies in the region. ContactsAston Swift / Sarah Ogilvie IntertekTelephone: +44 (0) 20 7396 [email protected] / [email protected] Richard Mountain / Susanne Walker, Financial DynamicsTelephone: +44 (0) 20 7831 [email protected] / [email protected] Notes to Editors ABOUT INTERTEKIntertek is the leading international provider of quality and safety services toa wide range of global and local industries. Partnership with Intertek bringsincreased value to customers' products and processes, ultimately supportingtheir success in the global market place. Intertek has the experience,expertise, resources and global reach to support its customers through itsnetwork of 930 laboratories and offices and over 18,000 people in 109 countriesaround the world. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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