LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:
Eurofins Scientific (Paris:ERF) (EUFI.PA), the global leader in environment testing, announces that it has signed an agreement to acquire Environmental Research & Industrial Co-operation (“ERICo”), the leading independent laboratory for environment testing services in Slovenia.
As the largest private environment testing laboratory in the country, ERICo provides a comprehensive portfolio of analytical services for water, air and soil testing. The company also provides research and consultancy as part of its analytical service offering. Founded 25 years ago, the company employs 46 staff at its laboratory in Velenje, northeast Slovenia, and serves primarily the largest industrial companies including power plants and coal mines, as well as public municipalities. In addition, ERICo has GMP capabilities for pharmaceutical products testing, although this represents a small portion of its business at present.
This acquisition therefore represents a solid entry platform, on which Eurofins can deploy its full range of capabilities, rapidly increase penetration and gain market share in Slovenia. Furthermore, with a modestly growing economy1, Slovenia represents good growth opportunities in the medium term as outsourcing to private independent laboratories should also continue to ramp-up.
Comment from Marijan Penšek, Senior Vice President, Gorenje Group: “We believe ERICo will benefit from becoming part of the Eurofins Group, and getting access to its wide range of technical expertise and its network capabilities. We look forward to continued collaboration between Eurofins and ERICo’s former shareholders, the Gorenje Group (the largest hardline manufacturing company in the country), Termoelektrarna Šoštanj (a regional power plant) and Premogovnik Velenje (a regional coal mine).”
Comment from Dr. Gilles Martin, Eurofins’ CEO: “ERICo provides Eurofins a good entry into the analytical testing market in Slovenia and reinforces our footprint in central and eastern Europe. We are looking forward to contributing to, and strengthening ERICo’s position in its market, as well as expanding the portfolio of tests it offers to customers by offering the full range of services and capabilities of the Group.”
For more information, please visit www.eurofins.com
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 the world leader in food, environment and pharmaceutical products testing and that it is also one of the global independent market leaders in certain testing and laboratory services for agroscience, genomics, discovery pharmacology and for supporting clinical studies. In addition, Eurofins is one of the key emerging players in specialty clinical diagnostic testing in Europe and the USA. With over 28,000 staff in 310 laboratories across 39 countries, Eurofins offers a portfolio of over 130,000 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 judgement of Eurofins Scientific’ 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.