Intertek acquires Laboratory Services International B.V (LSI) Mineral Laboratory
Intertek Group plc (Intertek), a leading provider of quality and safety services to a wide range of industries worldwide, announces that it has acquired 75% of the issued capital of LSI, a global minerals reference testing laboratory.
The shareholding was purchased from LSI's management shareholders for a cash consideration of EUR 5 million (GBP 4 million).
LSI supports vendors and buyers of mineral consignments globally with analytical testing of traded minerals as a worldwide reference laboratory. As a LME (London Metal Exchange) approved facility, LSI is used by customers around the world to ascertain precise minerals values when settling commercial trades of minerals.
Demand for LSI's services is driven by global minerals trading activity. As a leading international reference testing laboratory, LSI will enhance Intertek's existing minerals services by extending world-class trade verification services to all our customers.
LSI is located in Rotterdam, Netherlands with 27 full-time employees. The company will form part of Intertek's Commodities division.
Wolfhart Hauser, Chief Executive Officer of Intertek, commented:
"LSI adds new world-class trade reference testing capabilities to our minerals business within our Commodities division with an excellent reputation for precision and customer service. We are pleased to welcome LSI and its team of experts to Intertek".