7th Jun 2007 11:00
Intertek Group PLC07 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 andsafety services to a wide range of industries, announces the acquisition ofQuantitative Technologies Inc (QTI), a US-based pharmaceutical testing company,for USD20.0 million (GBP10.0 million) in cash from its shareholders C Bacon, PWinslow 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 in2007. QTI, based in New Jersey, will further Intertek's growth in the provision ofexpert analytical support services to the global pharmaceutical, medical deviceand drug delivery industries. It joins Intertek's existing pharmaceuticallaboratory network across the UK, Europe, and the recently-acquired Altabio-analytical laboratories in California, USA. Wolfhart Hauser, Chief Executive Officer of Intertek, commented: "We are delighted with this acquisition which follows a number of acquisitionsmade already this year across a variety of industries in Australia, Singapore,Finland and the UK. QTI improves our offering in analytical testing and supportto the pharmaceutical and biotechnology industry and our provision of a globalservice." -ends- Contacts Aston Swift / Sarah Ogilvie Intertek Telephone: +44 (0) 20 7396 3400 [email protected] / [email protected] Richard Mountain / Susanne Yule, Financial Dynamics Telephone: +44 (0) 20 7831 3113 [email protected] / [email protected] Notes to Editors ABOUT INTERTEK Intertek is a leading international provider of quality and safety services to awide 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 theirnetwork of 930 laboratories and offices, over 18,000 people in 109 countriesaround the world. ABOUT QTI QTI is an eminent contract analytical research and development laboratory,serving the pharmaceutical, medical device and drug delivery industry in NorthAmerica for over 15 years. Specialising in the pre-market launch stages of thedrug and product development life cycle, QTI is located in Whitehouse, NewJersey, with approximately 60 staff and counts major global pharmaceuticalcompanies among its clients. The laboratory is highly regarded for technicalexpertise, rigorous compliance programmes, and outstanding customer service - itis a current Good Manufacturing Practice (cGMP) facility in good standing withthe FDA. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Intertek Group