SGS is pleased to announce it has entered into an agreement to acquire Estudios Técnicos SA, (ETSA), in Colombia. ETSA is a leading engineering project supervision and management company in Colombia.
It serves mainly the energy, infrastructure, construction and public services sectors through its headquarters in Bogota and over 50 project offices throughout the country. ETSA is expanding its offering in Latin America with sales offices in Peru and Panama. Founded in 1964 and privately owned, ETSA employs 500 highly skilled staff and generated revenues in 2011 of COP 95 billion (CHF 48.5 million).
With this acquisition SGS would diversify its service offering in Colombia. It should provide SGS with excellent access to the fast growing mining and oil market and creates a stronger platform for further expansion in South America.
“I am very pleased with this acquisition which is perfectly in line with our Industrial strategy. ETSA enjoys an excellent reputation and I see significant new business opportunities in South America as it grows and expands into new markets“ said Chris Kirk, CEO of SGS.
Closing of the transaction is subject to certain conditions that are expected to be completed in the coming days.
For further information, please contact:
Jean-Luc de Buman
Communications & IR
1 place des Alpes
CH - 1211 Geneva 1
t: (+41-22) 739 91 11
f: (+41-22) 739 92 00
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 70,000 employees, SGS operates a network of over 1,350 offices and laboratories around the world.