Intertek boosts commodities division with stake in testing lab

Intertek, the FTSE 100 quality and safety testing group, has acquired 75 per cent of the issued capital of LSI, a global minerals reference testing laboratory for five million euros.

LSI is located in Rotterdam in the Netherlands, with 27 full-time employees.

Wolfhart Hauser, Chief Executive Officer of Intertek, said: "LSI adds new world-class trade reference testing capabilities to our minerals business within our Commodities division with an excellent reputation for precision and customer service."

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The group also said that the new business will enhance its existing minerals services by extending world-class trade verification services to its customers.

LSI supports vendors and buyers of mineral consignments around the world, with analytical testing of traded minerals as a worldwide reference laboratory.

As a London Metal Exchange approved facility, LSI is used by customers to ascertain precise minerals values when settling commercial trades of minerals, it added.

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