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."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
NR
-
‘I installed a heat pump in my home – here are five things I’ve learnt’From the size and noise of a heat pump to how much it costs to run one, Ruth Emery reveals what she’s learnt after installing one in her home six months ago
-
3 ways to work out if a stock is good valueThe only thing you can really control in investing is the price you pay for an asset – but how can you tell if you’re getting a good deal when it comes to the price of a stock?
