Sharechat Logo

NZ Laboratory goes from one French owner to another

Wednesday 4th July 2012

Text too small?

Eurofins Scientific, the French bio-analytical testing firm, has acquired New Zealand Laboratory Services from another French firm for an undisclosed amount.

NZ Labs was purchased from Amdel Holdings, the Melbourne-based unit of France’s mining and minerals service company Bureau Veritas. Amdel flagged its intention to exit its New Zealand operations to "focus on its Australian activities," according to its 2011 annual report.

Eurofins has been looking to solidify a place in the New Zealand market in a bid to expand its presence in Asia Pacific.

"The entry into New Zealand is consistent with the group’s commitment in the rapidly-growing Asia Pacific region," Gilles Martin, chief executive said in a statement. “NZ Labs provides a strong regional platform for the group’s capabilities in dairy and pesticides testing."

NZ Labs employs about 100 workers and generates about 5 million euros in annual revenue. That will add to Eurofins 160 laboratories which span 32 countries.

Eurofins shares are listed on France’s CAC 40 and last traded at 103.2 euros. The stock has gained 59 percent in the past year.

BusinessDesk.co.nz

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ shares take a breather after hitting a fresh record
NZ dollar gains against Aussie as Westpac picks two RBA rate cuts
NZ Windfarms cans asset sale, plans share buyback
Livestock Improvement more than doubles FY net profit
Asians, men more confident in financial markets than Pacific Islanders, women and poor people
June trade surplus $365M, higher than expected
Govt opts for sweeping review of 'underperforming' RMA
AFT gains Australian registration for intravenous Maxigesic
24th July 2019 Morning Report
Should Fletcher Building persist with Australia?

IRG See IRG research reports