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SGS unveils EMICS takeover.

M2 EQUITYBITES-November 5, 2012-SGS unveils EMICS takeover(C)2012 M2 COMMUNICATIONS http://www.m2.com

5 November 2012 - Swiss inspection, verification, testing and certification company SGS SA (VTX:SGSN) said on Monday it had acquired British instruments calibration and inspection services provider EMICS Ltd, without disclosing the price tag of the deal.

Through the takeover of EMICS, which is an United Kingdom Accreditation Service (UKAS) calibration laboratory, SGS adds new calibration capabilities and expands its presence in the UK, the Swiss firm's CEO, Chris Kirk, noted. The acquired business is complementary to SGS Oil Gas and Chemicals Services' offering in the measurement and instrumentation services, the buyer said.

EMICS is seen to book revenues of GBP2.8m (USD4.5m/EUR3.5m) this year.

EMICS was set up in 1990 and is headquartered in Nottingham. It has a workforce of 43. The company caters to the rail, marine, aerospace, nuclear and automotive sectors. It provides calibration services in its laboratory for electrical, mechanical, temperature, pressure, torque, ultrasonic, acoustic, air flow, high voltage and light equipment. EMICS was formerly known as East Midland Inspection & Calibration Service.

SGS is based in Geneva, Switzerland and is present globally through a network of more than 1,350 offices and laboratories. It has over 70,000 people on its payroll. SGS says it actively pursues takeovers to beef up its business. Last month it acquired South African non destructive testing (NDT) services and consulting provider Sentinel Services (Proprietary) Ltd and Australian radiation calibration, monitoring, testing and consulting specialist Australian Radiation Services Pty Ltd.

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Publication:M2 EquityBites (EQB)
Date:Nov 5, 2012
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