SAI Global Makes It's Marque with Italian Acquisition.Turin, Italy, Sept 18, 2006 - (JCN Newswire) - SAI Global Limited (ASX ASX See: Australian Stock Exchange : SAI) has completed the acquisition of Certificazioni Torinesi S.R.L. ("CerTo"), a leading Italian assurance provider. CerTo represents an important strategic acquisition for the continued growth and expansion of SAI's assurance business. The Acquisition: - adds blue chip clients to SAI Global's assurance business including Ferrari, Maserati and Bosch; - provides a platform for expansion into continental Europe; and - extends SAI Global's position as a global assurance provider. In paying a multiple of 7 times EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). , Mr Ross Wraight, Chief Executive Officer of SAI Global, said: "The acquisition really puts SAI in pole position to drive its business improvement solutions across Europe." "CerTo enhances SAI's current offering in Europe and continues to deliver on its strategic intent to build a leading global scale business in the international assurance market. CerTo dominates Italy's automotive certification industry and its services align with SAI's existing management systems and product certification offering." "Importantly, the Acquisition provides scale to SAI Global's core assurance business in Europe and brings a blue chip client list," said Mr Wraight. Overview of CerTo Headquartered in Turin (Italy), CERTO was founded in 1993 as a landmark organization for Italian Automotive Industries. The founding partners include: Unione Industriale di Torino (Turin Industrial Association), ANFIA ANFIA Associazione Nazionale Fra Industrie Automobilistiche (National Association of the Automobile Industry; Torino, Italy) (National Association of Automotive Industries, Italian IATF Oversight Office), AMMA Am´ma n. 1. An abbes or spiritual mother. (Metallurgic & Mechanical Industry Association), AICQ (Italian Association for Quality Culture), member of EOQ (Economic Order Quantity) The most economical quantity of a product that should be purchased at one time. The EOQ is based on all associated costs for ordering and maintaining the product. (European Organization for Quality) and CUNA Cuna Chibchan-speaking Indian people who once occupied the central region of what is now Panama and the neighbouring San Blas Islands and who still survive in marginal areas. In the 16th century they lived in federated villages under chiefs who wielded considerable power. (Technical Commission for Automotive Standardization). CerTo has 25 employees with offices in Turin, Naples, Tunisia and Poland. Its clients include Ferrari, Maserati, Brembo, Dayco and Bosch. The existing key management of CerTo will remain with the business under new three year contracts. CerTo's core products include ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001, ISO14001, UNI9100, TS16949, Environment Management and Audit Scheme (EMAS), Emission Trading Scheme, OHSAS OHSAS Occupational Health and Safety Management System OHSAS Occupational Health & Safety Assessment Series OHSAS Occupational Health and Safety Assessment Scheme (UK) 18001 and SA8000. CerTo also conducts in-house training and performs asset management audits for large organisations. CerTo is accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. by the Italian accreditation body Sincert and the International Automotive Taskforce (IATF). "CerTo is proud to become part of the SAI Global family" said Domenico Gai, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CerTo: "It's a great opportunity to improve our leadership, setting the conditions to develop new synergies allowing us to upgrade the services offered to our customers, to develop new competence and to strengthen and extend our image and presence worldwide." CerTo is forecast to generate approximately 5 million euros in revenues over the next twelve months and an EBIT of approximately 600 thousand euros. SAI Global will recognise nine and half months' of these results in its FY07 accounts, less charges for the amortization of any identifiable intangible assets. Acquisition Funding The acquisition was funded out of existing cash reserves and is expected to be EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. accretive both on a cash earnings and reported net profit after tax basis in FY2007. About SAI GLOBAL LIMITED SAI Global (ASX: SAI) is one of the world's leading applied information services companies which works with organizations to provide the framework, directions, support and systems which enable you to improve your organization. SAI Global offers a range of services designed to help organizations manage risk, achieve compliance and drive business improvement. For further information about how SAI Global helps organizations succeed in the global marketplace please inquire. www.saiglobal.com Source: SAI GLOBAL LIMITED Contact: Investor Relations Inquiries Tom Godfrey - SAI Global +61 2 8206 6863 - +61 414 191 034 tom.godfrey@sai-global.com Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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