M&A Activity • Jun 1, 2010
M&A Activity
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Neuilly-sur-Seine, June 1, 2010 – Bureau Veritas, the world's second-largest group in conformity assessment and certification services in the fields of quality, health and safety, environment and social responsibility has completed the acquisition of Advanced Coal Technology in South Africa.
Advanced Coal Technology (ACT) is one of the leading suppliers of coal testing services in South Africa. The company, whose head office is located in Pretoria, was created in 2002, following the outsourcing of minerals testing laboratories by a South African mining group, operates three laboratories located in Pretoria, Witbank and Sasolburg, has 86 employees and generated sales of SAR78 million in 2009 (€7 million).
This acquisition is an important step in the development of Bureau Veritas' mineral testing platform in Africa and complements the Group's existing coal testing operations in Australia. ACT positions the Group on a fast growing market and will be used as a platform to serve the other emerging coal markets in Southern Africa (Mozambique, Botswana and Zimbabwe). Bureau Veritas intends to increase ACT capacity in all laboratories over the next two years to address this market potential. Besides this acquisition, the Group is consolidating its presence in Africa with the opening in July 2010 of two mineral laboratories (gold, uranium, base metals) in Côte d'Ivoire and Namibia.
The Mining and Minerals activity (revenue of €106 million in 2009) offers a wide range of inspection and laboratory testing services to the mining industry for all types of minerals (coal, iron ore, base metals, gold, uranium, bauxite, etc.). The development of the Mining & Minerals activity started with a string of acquisitions made between 2007 and 2008 in Australia (CCI and Amdel) and in South America (Cesmec and Geonalitica). Following the ACT acquisition, Bureau Veritas will operate a network of 36 laboratories in Australia, South America and Africa with leading positions in Australia and Chile.
Founded in 1828, Bureau Veritas is an international group specialised in the inspection, analysis, audit, and certification of products, infrastructure (buildings, industrial sites, equipment, ships, etc.) and management systems (ISO standards etc.) in relation to regulatory or voluntary frameworks.
Bureau Veritas ranks as the world's second largest group in conformity assessment and certification services in the fields of quality, health and safety, environment, and social responsibility ("QHSE") and the world leader in QHSE services not including raw materials inspection. Bureau Veritas is recognised and accredited by major national and international organisations.
Bureau Veritas is present in 140 countries through a network of 900 offices and laboratories. It has more than 39,000 employees and a client base of more than 370,000.
Since 1996, Bureau Veritas has posted average annual growth of 15% in revenue and 20% in adjusted operating profit. In 2009, the Group reported revenue of €2.648 billion, adjusted operating profit of € 433 million and adjusted net profit (Group share) of €274 million.
Bureau Veritas has been listed on the Euronext Paris (Compartment A, code ISIN FR 0006174348, stock symbol: BVI) since October 24, 2007.
www.bureauveritas.com
Analysts-investors Press Domitille Vielle – +33 (0)1 55 24 77 80 [email protected]
Claire Plais – +33 (0)1 55 24 76 09 Véronique Gielec – +33 (0)1 55 24 76 01 [email protected] Céline Gurdon - + 33 (0)1 40 41 56 17 [email protected]
This press release contains forward-looking statements which are based on current plans and forecasts of Bureau Veritas' management. Such forward-looking statements are by their nature subject to a number of important risk and uncertainty factors such as those described in the documents filed by Bureau Veritas with the Autorité des marchés financiers (Registration Document, Document de base, Note d'opération) that could cause actual results to differ from the plans, objectives and expectations expressed in such forward-looking statements. These such forward-looking statements speak only as of the date on which they are made, and Bureau Veritas undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
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