Wendel welcomes the acquisition of CERTEST, an Italian softline luxury goods and apparel testing laboratory, by Bureau Veritas.
Established in 2004, CERTEST is located in Tuscany, a key production center for leather goods and apparel in Italy. The laboratory provides physical and chemical testing services to luxury international brands to assess the safety and quality characteristics of leather, footwear and other softline products, including textiles and jewelry. CERTEST is a leader in Italy with a strong market share. CERTEST employs 32 people and generated a revenue of EUR 3.5 million in 2014.
At a global level, testing services for softline luxury goods are growing rapidly, driven by strong demand for independent specialist assessment services along the supply chain.
This transaction will contribute positively to Bureau Veritas long-term value creation. Wendel is the controlling shareholder of Bureau Veritas with 40.5% of its capital.
Financial calendar
12/3/2015
2015 Investor Day / Publication of NAV and trading update (pre-market release)
3/31/2016
2015 full-year results / Publication of NAV (pre-market release)
6/1/2016
Shareholders' Meeting / Publication of NAV and trading update (before Shareholders' Meeting)
9/8/2016
H1 2016 earnings / Publication of NAV (pre-market release)
12/1/2016
2016 Investor Day / Publication of NAV and trading update (pre-market release)
About Wendel
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and AlliedBarton Security Services. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm and Parcours in France, Nippon Oil Pump in Japan, Saham Group in Africa and CSP Technologies in the United States. Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: BBB-, stable outlook - Short-term: A-3 since July 7, 2014. Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
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