Exova Group PLC Development of global laboratory portfolio (0538R)
December 06 2016 - 1:02AM
UK Regulatory
TIDMEXO
RNS Number : 0538R
Exova Group PLC
06 December 2016
6 December, 2016
Exova Group plc
Exova announces further development of its global laboratory
portfolio
Exova Group plc ("Exova") EXO.L, the global testing, calibration
and advisory services provider, announces that it has completed two
transactions that continue its successful programme of building
value in its laboratory network.
In the UK, Exova has acquired Insight NDT Limited (Insight), a
South Yorkshire-based non-destructive testing (NDT) and
radiographic inspection business. Insight is at the forefront of
the NDT market in the UK, providing its specialist services to the
industrial sector since 1997. Insight's reputation is built on
consistently providing high quality, high capacity and fast
turnaround radiographic inspection services for manufacturers of
specialised castings and forgings within the industrials market, as
well as providing testing for the nuclear, medical, rail and oil
& gas sectors. The business has an experienced team of 20
specialists and achieved revenues of around GBP2m in 2015.
In Canada, Exova completed the sale of its Environmental East
business to international life sciences company, Eurofins, for a
cash consideration of around C$13m. The sale consists of a
portfolio of five well-established, accredited laboratories and two
depots across the Eastern provinces of Ontario and Quebec. These
provide testing services across a wide range of activities
including drinking and waste water analysis, soil testing, ambient
air quality testing, asbestos testing, eco-toxicity testing and
stack sampling. Exova's Environmental testing business in Eastern
Canada generated revenues of around C$19m in 2015.
Ian El-Mokadem, Chief Executive Officer at Exova, said: "These
transactions provide more evidence of our intention to continue to
focus our resources on building and strengthening our market
leading positions in the provision of technically demanding
services. We aim to continue to grow our business organically and
remain confident of our ability to strengthen our business with
further well executed acquisitions."
Ends
Enquiries:
Andy Jones
Powerscourt
T: +44 (0) 20 7549 0747
E: andy.jones@exova.com
Diana Milford
External Communications Manager, Exova
T: +44 131 335 4373
E: diana.milford@exova.com
Exova
Exova is one of the world's leading laboratory-based testing
groups, trusted by organisations to test and advise on the safety,
quality and performance of their products and operations.
Headquartered in Edinburgh, UK, Exova operates 138 laboratories and
offices in 33 countries and employs more than 4,300 people
throughout Europe, the Americas, the Middle East, Asia/Asia Pacific
and Africa.
Exova's capabilities help to extend asset life, bring
predictability to applications, and shorten the time to market for
customers' products, processes and materials. With over 90 years'
experience, Exova specialises in testing across a number of key
sectors ranging from Aerospace to Fire & Building Products; Oil
& Gas and Industrials; Infrastructure & Environment;
Automotive; and Health Sciences.
This information is provided by RNS
The company news service from the London Stock Exchange
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