Eurofins reinforces its environment testing footprint with the acquisition of EAC Corp. in Japan
Monday, May 2, 2016
Eurofins Scientific (EUFI.PA), the world leader in environment testing services, announces that it has signed an agreement to acquire EAC Corporation Ltd. ("EAC") from Asahi Industries Co., Ltd. ("Asahi") in Japan. As part of the acquisition, Asahi and Eurofins will enter into an exclusive supplier contract for a period of 3 years. The transaction is expected to close by the end of May.
EAC provides environment testing services nationwide, with a strong competence in water and dioxin testing, and is one of the leading laboratories in the Northern Kanto region of Japan. Established in 1972, EAC employs about 70 staff and generates revenues of about EUR 5m.
The acquisition of EAC reinforces Eurofins' local footprint, as well as its platform to further deploy the Group's analytical expertise, especially in water and dioxin testing. With a leading position in Radioactive Material Analysis (RMA) following the acquisition of Nihon Kankyo (2012) and Nihon Soken (2015), the acquisition of EAC should allow Eurofins to also strengthen its service offering in water and dioxin testing. Furthermore, EAC's site location is a strong geographic fit with Eurofins' existing presence in the Southern Kanto region. Therefore the operational and geographic fit of this acquisition should allow the Group to become a reference laboratory for environment testing in Japan.
Comment from Dr. Gilles Martin, Eurofins CEO: "EAC is a good strategic fit to the Group's existing activities in Japan. This acquisition reinforces the Group's growing Asia Pacific footprint, and is a further demonstration of our commitment in the region. We look forward to giving EAC access to the full capabilities of the Eurofins network."
For more information about Eurofins, please visit www.eurofins.com or contact:
Eurofins Scientific Group
Phone: +32 2 766 1620
Notes for the editor:
Eurofins - a global leader in bio-analysis
Eurofins Scientific believes it is the world leader in food, environment and pharmaceutical products testing, as well as one of the global market leaders in agroscience, genomics, discovery pharmacology and central laboratory services. In addition, Eurofins is one of the key emerging players in specialty clinical diagnostic testing in Europe and the USA.
With over 23,000 staff in more than 225 laboratories across 39 countries, Eurofins offers a portfolio of over 130,000 validated analytical methods for evaluating the safety, identity, composition, authenticity, origin, traceability and purity of biological substances and products, as well as for innovative clinical diagnostic. The Group provides 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 and healthcare practitioners 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.