QinetiQ in £500,000 sell-off
QinetiQ Group, which is based in Farnborough, has sold its UK fuel and lubricants business to Intertek Group for £500,000.
QinetiQ main business involves providing technical advice to customers in the aerospace, defence and security markets. The company said the disposal of QinetiQ UK Fuel and Lubricants Testing Business (OALTB) was in line with its strategy to focus on its core business.
Intertek Group, which is a provider of quality and safety solutions, said that OALTB would be incorporated into its chemicals and pharmaceuticals division.
Intertek Group has also acquired Stoke on Trent-based Food Analytical Laboratory Limited (FAL) and Recherche, Developpement and Consulting, which is located in Brussels.
Wolfhart Hauser, chief executive officer of Intertek, said: "These three acquisitions demonstrate Intertek's progress in its strategy to add new expertise and capabilities across the supply chain in areas where our clients' development of new technologies and operations demand them.
"FAL will bring new expertise to Intertek and provide a UK-based food testing laboratory to complement the existing food services business. RDC will help position Intertek at the forefront of European clients' needs in environmental sustainability assessment, and OALTB will increase Intertek's reach in the fuel and lubricant testing markets.
"We look forward to welcoming these companies and their management teams to Intertek."
