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."

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