Intertek snaps up Chilean metal-testing firm

Quality control group Intertek has purchased Vigalab, a minerals testing laboratory in Chile.

Vigalab helps mining companies in the Copiapo and Antofagasta regions to analyse and assess the value of mineral deposits being explored (by sample preparation and trace metal analysis, etc.), such as copper, gold, silver, iron, zinc and lead.

"Demand for minerals testing in Chile and Latin America is being driven by increased mining investment and development in the region by local and international companies over recent years. Vigalab complements Intertek's existing minerals capabilities in Brazil," the firm said.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

The company was bought from its shareholders for 2,600m Chilean pesos (£3.4m) in cash.

"Vigalab is an excellent new addition to our international minerals capabilities. It also extends Intertek's delivery of quality solutions in support of Latin America's increasing global trade - in particular in the commodities, energy infrastructure, consumer product, food and agriculture industries," said Intertek's Chief Executive Officer Wolfhart Hauser.

The unit will be integrated into Intertek's Commodities division.

BC