Yahoo Finance BUREAU VERITAS: Acquisition of IPS Tokai Corporation in Japan
Bureau Veritas acquires IPS Tokai Corporation in Japan and enhances presence in Automotive in Asia
Neuilly-sur-Seine, France, November 30, 2017 - Bureau Veritas has acquired IPS Tokai Corporation, one of the key testing players in automotive electromagnetic compatibility (EMC) testing in Japan.
IPS Tokai Corporation, located in Anjo-shi, Aichi Prefecture, is a division of IPS Corporation specialized in automotive testing services. It offers EMC and Environmental test services for electronic components and subassemblies intended to be fitted on vehicles. It serves Japanese Tier 1 and 2 automotive suppliers, employs 10 people and generated around €2 million revenues in 2016.
IPS Tokai Corporation provides Bureau Veritas with its first laboratory in the technology testing market in Japan. The acquisition will enable the Group to drive synergies with its Smartworld capabilities to support Japan`s high tech brand and manufacturing leaders as industries continue to develop digital and wireless innovations. It also enables Bureau Veritas to acquire automotive EMC capabilities and accreditations in Japan and expand its global footprint.
Bureau Veritas` Chief Executive Officer Didier Michaud-Daniel commented:
"Automotive is one of our five strategic growth initiatives and the Japanese automotive industry is one of the most prominent and largest industries in the world, with a production of over 9 million cars in 2016. I am delighted to welcome IPS Tokai Corporation to Bureau Veritas. With this acquisition, Bureau Veritas not only expands its footprint in Asia, but we are able to diversify our portfolio by adding testing capabilities. Coupled with our Smartworld services, Bureau Veritas can help suppliers meet the compliance and performance needs of today`s and tomorrow`s electric vehicles and connected cars. We will also leverage our network to support the Japanese automotive industry in expanding overseas."
Yasuyuki Nagahara, President of IPS Corporation, stated:
"We are very happy for our Automotive EMC business to join Bureau Veritas, and look forward to exploring collaboration opportunities for the automotive marketplace. Bureau Veritas` technical capabilities complements our EMC services providing our clients with both wireless conformity and performance as well as EMC testing."
About Bureau Veritas
Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has 74,000 employees located in 1,400 offices and laboratories around the globe. Bureau Veritas helps its clients improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.
Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, visit www.bureauveritas.com
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Bureau Veritas acquires IPS Tokai Corporation in Japan
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Source: BUREAU VERITAS via GlobeNewswire
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