M&A Activity • Dec 23, 2008
M&A Activity
Open in ViewerOpens in native device viewer
Neuilly-sur-Seine, December 23, 2008 – Bureau Veritas has agreed to acquire 100% of the share capital of the Chilean company Asesoría Minera Geoanalítica Limitada ("Geoanalitica"), pursuing its development through external growth, one of the key elements of the Group's strategy.
Founded in 1995, Geoanalitica provides a broad range of conformity assessment services for mining companies with a focus on minerals samples preparation and geochemical analysis. Headquartered in Coquimbo, Chile, Geoanalitica is also present in two additional locations, Antofagasta and Copiapo, and has all together around 300 employees.
For the fiscal year ending December 31, 2008, Geoanalitica revenue is estimated at 5,800 million Chilean pesos (6.6 million euros).
By integrating Geoanalitica, Bureau Veritas is expanding its service offering to the Chilean mining sector and its positioning with the major players of this industry, and is reinforcing its existing leading position in Chile acquired through its purchase of Cesmec, another Chilean company, in March 2008. Bureau Veritas Group also enhances its presence in Latin America where it will now have more than 5,500 employees.
The closing of this acquisition should take place on December 31, 2008.
Founded in 1828, Bureau Veritas is an international group specialised in the inspection, analysis, audit, and certification of products, assets (buildings, industrial sites, equipment, ships, etc.) and management systems (ISO standards etc.) within 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 is the world leader in QHSE services, excluding 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 850 offices and laboratories. It has more than 40,000 employees at September 30, 2008 and a client base of more than 300,000.
Since 1996, Bureau Veritas has posted an average annual growth of 15% in revenue and 22% in adjusted operating profit. In 2007, the group reported revenue of € 2.067 billion, adjusted operating profit of € 312 million and adjusted net profit (Group share) of €193 million.
Bureau Veritas has been listed on the Euronext Paris (Compartment A, code ISIN FR 0006174348, mnemonic: BVI) since October 24, 2007.
www.bureauveritas.com
Analysts-investors Journalists: Domitille Vielle – +33 (0)1 55 24 77 80 [email protected] [email protected]
Claire Plais – +33 (0)1 55 24 76 09 Véronique Gielec – +33 (0)1 55 24 76 01
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 (Document de référence, 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.
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.