Eurofins Press Release: Eurofins reinforces its market leadership in testing, inspection and certification with the acquisition of two subsidiaries of the VTT Group in Finland
Eurofins Scientific (EUFI.PA), a global leader in bioanalytical testing, announces that it has acquired VTT Expert Services Ltd. (“VTT ES”) and Labtium Ltd. (“Labtium”), two wholly owned subsidiaries of VTT Technical Research Centre of Finland Ltd. (“VTT Group”). These subsidiaries cover all of VTT’s testing, inspection and certification (TIC) operations.
VTT ES offers its clients versatile expert services including calibration services, certification services, structural safety testing, building material testing, electronics testing, fire safety testing and product failure and safety testing. VTT ES has accreditations covering over 1,300 standards. Labtium offers advanced analytical services including environment testing, geochemistry, fuel and combustion chemistry, pulp mill chemistry, mineral processing services and material and products testing. The two companies operate 16 facilities in Finland with a total size of over 17,000 m2. In 2017, they generated annual revenues in excess of EUR 27m.
The acquisition of VTT ES will complement Eurofins existing product testing services portfolio and the acquisition of Labtium will strengthen Eurofins global leadership in environment testing. Both acquisitions reinforce the Group’s presence in the Finnish market which was established last year with the acquisitions of Nab Labs, Ramboll Labs and Ahma.
Comment from Dr. Gilles Martin, Eurofins CEO: “We are very pleased to welcome VTT ES and Labtium to the Eurofins Group. These acquisitions will significantly expand Eurofins’ existing portfolio of competencies in the product testing market, environment testing market and materials and engineering sciences market. In return, VTT ES and Labtium will gain access to the Group’s entire portfolio of competencies, logistics and clients. This transaction is another demonstration of Eurofins’ commitment to expand its state-of-the-art portfolio of analytical services for the benefit of its clients.”
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Notes for the editor
Eurofins – a global leader in bio-analysis
Eurofins Scientific through its subsidiaries (hereinafter sometimes “Eurofins” or “the Group”) believes it is a scientific leader in food, environment and pharmaceutical products testing and in agroscience CRO services. It is also one of the independent market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, CDMO, advanced material sciences and for supporting clinical studies. In addition, Eurofins is one of the emerging players in specialty clinical diagnostic testing in Europe and the USA. With over 35,000 staff in more than 400 laboratories across 44 countries, Eurofins offers a portfolio of over 150,000 analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products, as well as for innovative clinical diagnostic. The Group objective is to provide its customers with high-quality services, accurate results on time and expert advice by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by expanding both its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions and the most comprehensive range of testing methods.
As one of the most innovative and quality oriented international players in its industry, Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the expanding demands of regulatory authorities around the world.
The shares of Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).
This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Eurofins Scientific’s management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantee can be made as to their validity.