SAI Global Takes Stake in New Zealand Market.Tokyo, Japan, Apr 2, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - SAI Global Limited (ASX ASX See: Australian Stock Exchange : SAI) today announced that it will merge its New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. branch operations with the country's largest assurance provider Telarc Limited, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Testing Laboratory Registration Council. The deal creates a powerful assurance organization in the Australasian region by bringing together the largest providers of certification services in both Australia and New Zealand. On announcing the transaction the chief executive of SAI Global, Mr Ross Wraight, said: "We are delighted to be joining forces with Telarc in New Zealand, a move which further cements SAI's position as one of the leading global assurance providers and strengthens our business base in New Zealand." Geoff Hunt Geoffrey Brian ("Geoff") Hunt, MBE (born March 11 1947, in Melbourne, Australia), is a retired Australian squash player who is widely considered to be one of the greatest squash players of all time. , Chairman of Telarc, said: "SAI is a logical partner for Telarc. Our clients look to us to add value to their business, so the increased capabilities and the access to further international expertise and experience that this merger brings will ensure our clients receive even more exceptional certification services." The Transaction - Telarc and SAI will merge their operations into Telarc which is to be renamed Telarc SAI Limited - SAI will hold a 25% strategic stake in Telarc SAI - Telarc's Australian based clients will be serviced by SAI Global Telarc SAI will offer both management systems and product certification Product certification or product qualification is the process of certifying that a certain product has passed performance and/or quality assurance tests or qualification requirements stipulated in regulations such as a building code and nationally accredited test standards, audit services with solutions including quality, environment, occupational health and safety, information security and product safety. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mr Wraight: "The formation of Telarc SAI is in line with SAI's strategy to establish a credible presence in key geographic markets." Telarc annually assesses the management systems of more than 1,500 organisations in most industry types and in both the private and public sectors. "Large multinational clients continue to demand one provider of assurance services Assurance services have been defined by the American Institute of Certified Public Accountants (AICPA) as 'Independent Professional Services that improve information quality or its context'. globally and it is essential that SAI continues to develop its global reach," said Mr Wraight "The transaction will have a minimal impact on SAI Global this financial year. The combined entity is expected to deliver revenues of approximately AUD AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 6 million in FY2008." SAI Global now has an international network of offices in countries including: Japan, China, Thailand, the United Kingdom, France, Germany, Sweden, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , India, Turkey, Egypt, Australia, and New Zealand. For further information regarding Telarc please visit http://www.telarc.co.nz/ or for further information on SAI Global please visit http://www.saiglobal.com About Telarc Telarc's parent (Testing Laboratory Registration Council) was formed in 1973, is a Crown Entity and is head quartered in Auckland. Today, Telarc is the largest certification body in New Zealand offering a range of management systems certification programs including quality management, environmental management, occupational health and safety and product certification. http://www.telarc.co.nz/ About SAI Global Limited SAI Global (ASX: SAI) is one of the world's leading applied information services See Information Systems. companies which works with organizations to provide the framework, directions, support and systems which enable improved organizations. SAI Global offers a range of services designed to help organizations manage risk, achieve compliance and drive business improvement. Through its extensive e-capabilities and its network of auditors, experts and training professionals, SAI Global works with organisations to help them build better businesses. For further information about how SAI Global helps organizations succeed in the global marketplace please visit www.saiglobal.com. Source: SAI Global Limited Contact: Media & Investor Inquiries Tom Godfrey - SAI Global TEL: +61 2 8206 6863 - 0414 191 034 Email: tom.godfrey@sai-global.com Peter Rose - Telarc TEL: +64 9 580 6726 peter.rose@telarc.co.nz Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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