Bureau Veritas to acquire 100 percent stake in Spain’s ECA GLOBAL

29/08/07

Paris, August 29, 2007 – Bureau Veritas has agreed to acquire full control of Spain’s ECA GLOBAL, pursuing its development through external growth which is a key element of the Group’s strategy. This consists in the purchase of all the outstanding shares it does not already own, thereby attaining a 100% stake in ECA GLOBAL.

 

Founded in 1979 and headquartered in Barcelona, Spain, the ECA Group, of which ECA GLOBAL is the parent company, comprises over 50 companies and has more than 3,700 employees located in 26 offices and laboratories in Spain, and in 8 other countries: Portugal, Italy, France, Chile, Mexico, Colombia, Argentina and Canada.

 

ECA provides inspection, control, testing and certification services to all industries, as well as Governments. International activities represented 10% of the ECA Group’s 2006 revenue. In 2006, the ECA Group posted turnover in excess of 172 million euros and an operating profit of 19.2 million euros (under Spanish GAAP).

 

This acquisition will significantly enhance the presence of the Bureau Veritas Group in the West Mediterranean region, more than tripling the size of the Group’s operations in Spain and Portugal. By acquiring ECA Group, Bureau Veritas will become the leader in Spain in industrial services, in-service inspection, certification, and technical control of buildings. It will also extend its activities to quality monitoring of civil works & project management as well as vehicle inspections.

 

Frank Piedelièvre, President & Chief Executive Officer of Bureau Veritas, said: “The ECA Group has been very successful in the past few years. We look forward to welcoming all the ECA employees into the Bureau Veritas Group and to the continued growth and strong results which have been at the heart of the ECA Group’s success in the past.“
 
The acquisition of ECA GLOBAL by Bureau Veritas, will make of Spain the second largest country within the Group (after France), with some 4,300 employees.

 

This agreement is subject to the approval of Spanish anti-trust authorities.


About Bureau Veritas

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 700 offices and laboratories. It has more than 26,000 employees and a client base of more than 280,000.
In the last ten years, since 1996, Bureau Veritas has quadrupled its sales to €1.846 billion in 2006. Its operating profit has increased seven-fold to €268 million. In 2006, the group posted consolidated net profit of €154 million.

 

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