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12 acquisitions signed since January 1, 2007 representing more than €230 million in total annual revenues

Since January 1, 2007, Bureau Veritas has acquired 12 companies, representing total annual revenues of more than €230 million. Continuing acquisitions fit into the Group’s strategy to double 2006 revenues by 2011, and to reinforce its leadership position, on the back of strong organic growth, averaging 8% per annum. 

Acquisitions carried out since January 1, 2007

Main recent acquisitions

- Acquisition of Guardian Inspection on August 17, 2007

Guardian Inspection is the leading player in the construction code compliance market in the US state of Pennsylvania. The company, whose 2006 revenues reached €3 million, has more than 50 contracts with municipalities. The acquisition consolidates Bureau Veritas’ position in the Construction business in the US, providing a foothold in the construction code compliance market on the east coast, which is gradually opening to private enterprises. 

- Acquisition of AQSR on August 29, 2007

AQSR is a US company specialised in third party audits of quality and environmental management systems. With a portfolio of 4,000 clients, AQSR has sizeable market shares in the US and Canadian automotive segments. The company is also present in high-growth markets such as China, Taiwan, India, Mexico and Venezuela. In 2006, AQSR had revenues of €8 million. The acquisition will bolster Bureau Veritas' positions in the certification segment for the automotive sector in North America.   

- Acquisition of Trotters on September 3, 2007

Trotters is a Danish company specialised in inspection in the HSE field of transporting, handling and storing of dangerous goods. Trotters had revenues of €2.5 million in 2006. The acquisition is a means for Bureau Veritas to round out its positions in northern Europe and extend its HSE expertise in the field of transport and storage of dangerous substances.  

Review of main acquisitions since the start of the year

- Acquisition of CCI Holdings on June 29, 2007

CCI Holdings ranks no.1 in analytical and support testing services for the coal mining industry and no. 2 in inspection services in Australia (2006 calendar revenues of around €40 million). The acquisition has enabled Bureau Veritas to double its size in Australia while bolstering its positions in inspection services for the mining industry and extending its services offering in mineral testing.  

- Acquisition of 100% of ECA Global on August 23, 2007
Bureau Veritas previously owned 43% of Spanish company, ECA Global (€172 million of revenue in 2006), and has signed an agreement to acquire the remaining shares not already owned, bringing its stake to 100%. The acquisition, awaiting approval from the Spanish anti-trust authorities, will make Bureau Veritas a leader in the Spanish industrial services, in-service verification, certification and technical control of buildings markets.

The acquisitions made by the Group since the beginning of the year reinforce its positions in Europe, North America and Asia, in almost all its operational businesses. Frank Piedelièvre, President and Chief Executive Officer of Bureau Veritas, said: 'Bureau Veritas is a major player in the consolidation of our industry. The scale of our network and the diversity of our skills enable us to attract companies with complementary capabilities, or with strong positions on local or regional markets.'

About Bureau Veritas

Founded in 1828, Bureau Veritas is an international group specialised in the inspection, analysis, audit, and certification of products, infrastructure (buildings, industrial sites, equipment, ships, etc.) and management systems (ISO standards etc.) in relation to regulatory or voluntary frameworks.

Bureau Veritas considers it ranks as the world's second largest group in conformity assessment and certification services in the fields of quality, health and safety, environment, and social responsibility ("QHSE") and the world leader in QHSE services not including raw materials inspection. Bureau Veritas is recognised and accredited by major national and international organisations.

Bureau Veritas is present in 140 countries through a network of over 700 offices and laboratories. It has more than 27,000 employees and a client base of more than 280,000.

In the last ten years, since 1996, Bureau Veritas has quadrupled its sales to €1.846 billion in 2006. Its operating profit has increased seven-fold to €268 million. In 2006, the group posted consolidated net profit of €154 million.

A detailed description of the business and financial position of Bureau Veritas is included in the Company’s document de base registered by the Autorité des marchés financiers (the 'AMF') on July 10, 2007 under number I.07-127 (the “Document de Base”), and the actualisation du Document de Base dated August 29, 2007, which may be obtained on the website of Bureau Veritas (www.bureauveritas.fr) and on the website of the AMF (www.amf-france.org). Certain of the statements contained in this release may be statements of future expectations and other forward-looking statements that are based on management’s estimates, views, expectations and assumptions. By their nature, forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond under the control of Bureau Veritas, as they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements are not guarantees of Bureau Veritas’ future performance. Bureau Veritas’ actual results of operations, financial condition and liquidity as well as development of the industry in which Bureau Veritas operates may differ materially from those made in or suggested by the forward-looking statements contained in this release. All forward-looking statements speak only as of the date of this release. Bureau Veritas expressly disclaims any obligation or undertaking to review or confirm analyst expectations, to reflect events that occur or circumstances that arise after the date of this release. In addition, the occurrence of certain of the risks described in Chapter 4 of the Document de Base and the actualisation du Document de Base may have an impact on these forward-looking statements.

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Contacts

Analysts-investors 
Claire Plais – +33 (0)1 42 91 28 54

Press
Véronique Gielec – +33 (0)1 42 91 32 74