Swiss SGS unveils purchase of Metlab in S Africa.
11 April 2012 a[euro]" Swiss goods and services inspection specialist SGS SA (VTX:SGSN) announced on Wednesday it had taken over South African metallurgical testing laboratory Metlab (Pty) Ltd, without disclosing how much it paid for the company.
By acquiring this firm, SGS will strengthen its metallurgical laboratory testing presence on a global basis and will also get access to important South African industrial accounts, chief executive officer Chris Kirk commented. The transaction is in line with the Swiss companya[euro](tm)s expansion in southern Africaa[euro](tm)s destructive and non-destructive testing markets, he added.
Boksburg-based Metlab offers destructive and non-destructive metallurgical testing for sectors such as heavy and power engineering, heat transfer, testing and inspection, piping and tubing as well as steel mill and fabrication. The company, established in 1982, has a headcount of 40 metallurgical engineers, laboratory technicians and operators. Last year, its revenues surpassed ZAR21m (USD2.6m/EUR2m).
The Swiss company specialises in inspection, verification, testing and certification services. It had over 70,000 workers and a network of more than 1,350 offices and laboratories worldwide. Last year, SGS booked a pre-tax profit of CHF764m (USD836.1m/EUR635.9m) and an operating profit of CHF790m on a revenue of nearly CHF4.8bn. The companya[euro](tm)s current structure includes ten business segments that operate throughout just as much geographical regions.Country: South AfricaSector: Business and Consumer Services, Machinery/EngineeringTarget: Metlab (Pty) LtdBuyer: SGS SAType: Corporate acquisitionStatus: Closed