M&A Activity • Jul 9, 2015
M&A Activity
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Neuilly-sur-Seine, France, July 09, 2015 – Bureau Veritas has finalized the acquisition of a 70% equity stake in Shanghai TJU Engineering Service Co., Ltd ("Shanghai Xietong"), a Chinese company specialized in construction project supervision for industrial assets.
Founded in 1993, Shanghai Xietong focuses on providing mandatory construction project supervision and project management services to international and large Chinese chemical and pharmaceutical groups, mainly in the Yangtze River Delta Zone.
Shanghai Xietong employs 180 people. Its revenue for 2014 was around EUR 6 million.
"Bureau Veritas is pursuing its expansion in China, especially in the construction supervision market in which we have started building a national platform. Shanghai Xietong will complement our service capabilities and will help reinforce the presence of Bureau Veritas in growing industrial markets" commented Didier Michaud-Daniel, CEO of Bureau Veritas.
Mr Jin XiaoJie, Chairman of Shanghai Xietong, said: "We are proud to join a large reputable international group which will help us accelerate our development."
This is the fourth acquisition completed by Bureau Veritas in China since early 2015. Bureau Veritas now has a strong footprint in China, with around 100 locations and 12,500 employees.
Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has more than 66,700 employees in around 1,400 offices and laboratories located all around the globe. Bureau Veritas helps its clients to improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index. Compartment A, ISIN code FR 0006174348, stock symbol: BVI. For more information, go to www.bureauveritas.com
Analysts/Investors: Claire Plais: +33 (0)1 55 24 76 09 Mark Reinhard: +33 (0)1 55 24 77 80 [email protected] Press: Véronique Gielec: +33 (0)1 55 24 76 01 [email protected]
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