Intertek buys Malta-based Aldo Abela Surveys

Product testing, inspection and certification company, Intertek, has acquired Malta-based quality and quantity cargo inspection services provider Aldo Abela Surveys (AAS) for an undisclosed sum.

AAS's service portfolio includes professional and independent inspection services covering custody transfer of liquid cargos, bunker surveys, loading and unloading operations and bulk cargo inspections. It also provides assurance solutions for cargo damage, blending operations, ship-to-ship transfers, sampling and tank cleanliness certification.

Intertek said the deal leaves it "uniquely positioned" to provide a total quality assurance service offering to its cargo customers in the Mediterranean region and globally.

Chief executive officer Andre Lacroix said: "The acquisition of AAS will expand our quality inspections footprint in the Mediterranean region and will further strengthen Intertek Caleb Brett as the leader in providing total quality assurance to the cargo industry worldwide. We are very pleased to welcome AAS and its highly trained people to Intertek and look forward to seizing the compelling structural opportunities in the industry together."

AAS, which is employs 10 people and generated revenues of around €770,000 in 2017, is a trusted partner to many international oil traders and operators who rely on its expertise to ensure quality and quantity when trading and transporting high value petroleum cargo movements.

At 1535 GMT, the shares were down 0.5% to 5,028p.