|The Spanish multinational also solidifies its position in the UK with the acquisition of Brake Testing International (BTI), a move that will expand Applus+ IDIADA's brake development related services
BARCELONA, JUNE 15, 2011. Applus+, a global inspection, testing, certification and quality control company, announces today the acquisition of Qualitec, a Brazilian company specialized in non-destructive testing and inspection services for the oil, gas, chemical and pharmaceutical industries, among others. Based in Belo Horizonte, in the southeastern Brazilian state of Mina Gerais, Qualitec has 200 employees and reached a turnover of BRL25 million (11 million) last year.
Applus+ has also purchased the British company Brake Testing International (BTI), which provides brake testing for product development and standardization.
With these acquisitions, the multinational based in Barcelona pushes forward its growth strategy and takes a new leap forward in its internationalization process. It expects to exceed for the first time the 1 billion turnover mark, 70% of which comes from its international activity. According to company forecasts, Applus+ will see growth of approximately 20% this year over last year's earnings of 900 million.
According to Fernando Basabe, Applus+s CEO, the acquisition of Qualitec "marks the entry of our non-destructive testing division into one of the most promising emerging markets in the sector. We're expecting to see strong growth in oil infrastructure investments in Brazil in the coming years, which will increase the demand for the services of Applus RTD."
With the Qualitec acquisition arriving in the wake of the recent purchase of London Stock Exchange-listed Velosi the company is consolidating its presence in the Brazilian market, where it was based until now through two offices in the Sao Paulo area and a staff of 150 workers. The purchase will strengthen the operations of the Applus+ RTD division, which mainly specializes in non-destructive testing for the oil and gas sector.
New markets in emerging economies
The acquisition of Qualitec, founded in 1972, reinforces Applus+'s bid to achieve growth in emerging markets. In the case of Brazil, this is the second acquisition following the March 2010 purchase of High End, which provides technology services for the automotive industry.
Engaged since 2007 in an ambitious growth strategy, Applus+ currently operates in over 66 countries around the world and obtains around 70% of its turnover outside Spain. With this new transaction, the company is stepping up its presence in South America and establishing a strategic position in its biggest market. The Spanish multinational is also present in Argentina, Colombia, Costa Rica, Chile, Ecuador, Guatemala, Mexico, Nicaragua, Panama and Peru. Applus+ obtained a turnover in excess of 60 million last year in Latin America, where it has a workforce of 1,400 professionals.
Thanks to Applus+'s extensive international presence recently fortified with the acquisition of Velosi, strongly implemented in Asia, the Middle East and Africa the Qualitec purchase will also allow the company to leverage the synergies stemming from its activities in other markets and sectors.
Christian De Angelis / Mireia Sáenz
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