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Intertek Group

 
Hoover's Profile: Intertek Group plc
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(London:ITRK)
Contact Information
Intertek Group plc
25 Savile Row
London W1S 2ES, United Kingdom
Tel. +44-20-7396-3400
Fax +44-20-7396-3480

Type: Public
On the web: http://www.intertek.com

Intertek is a nosy nellie when it comes to product safety and international trade. The company, a leading provider of testing and inspection services, has operations in 110 countries. Its Caleb Brett unit offers inspection and certification services primarily to customers involved in the petroleum and petrochemical business, as well as outsourced analytical testing of consumer products, pharmaceuticals, and food. Intertek's other divisions provide compliance and product safety testing for consumer goods, performance testing of electronic devices, and import and pre-shipment inspections and training services for government agencies.

Key numbers for fiscal year ending December, 2008:
Sales: $1,452.4M
One year growth: (6.2%)
Net income: $135.8M
Income growth: (7.1%)

Officers:
Chairman: Vanni Treves
COO and Director: Mark Loughead
CFO and Director: William (Bill) Spencer

Competitors:
Bureau Veritas
Norske Veritas
SGS

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Wikipedia: Intertek Group
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Intertek Group plc
Type Public (LSE: ITRK)
Founded 1885
Headquarters London, UK
Key people Vanni Treves, Chairman
Wolfhart Hauser, CEO
Industry Testing
Revenue £1,003.5 million (2008)
Operating income £147.9 million (2008)
Net income £102.2 million (2008)
Employees 23,000 (2008)
Website www.intertek.com

Intertek Group plc (LSE: ITRK) is a worldwide provisionary of quality and safety services to global and local industries. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Contents

History

The Company can trace its origins from a marine surveying business formed by Caleb Brett in the 1890s, a testing laboratory formed by Milton Hersey in Montreal in 1888 and a lamp testing centre established by Thomas Edison in 1896.[1] These businesses were all acquired by Inchcape during the 1980s and early 1990s.[1] In 1996 Inchcape Testing Services was acquired by Charterhouse Development Capital and was renamed Intertek.[1] The Company was divested by Charterhouse in 2002 when the business was first listed on the London Stock Exchange.[2]

Intertek Group was promoted to the FTSE 100 Index of leading UK shares in March 2009.

Operations

The Company provides services to customers that help assess their products and commodities against various safety, regulatory, quality and performance standards. The services offered include testing, certification, auditing, inspection, quality assurance, consultancy, evaluation, analytical, training, outsourcing, risk management and security services.

Customers using Intertek services come from a range of industries including textile, toy, electronic, building, pharmaceutical, agriculture, automotive, chemical, oil, food, industrial, minerals, information technology and telecommunications.

Its main competitors are the Swiss companies Société Générale de Surveillance (SGS) and Cotecna.

Senior management

role salary bonus total
Wolfhart Hauser[3] Chief executive officer £534,000 £872,000 £1,406,000
William Spencer[4] Chief financial officer £270,000 £326,000 £596,000
Mark Loughead[5] Chief operating officer £310,000 £340,000 £650,000

Criticisms

In Sept 2000, The US Department of Justice brought criminal charges against former Intertek employees for making fictitious and fraudulent claims and for falsifying test data.[6]

Intertek's services for auditing factories in high corruption areas, such as China and Vietnam, have also been scrutinized for falsifying audit reports and accepting bribes to overlook minor infractions. Undercover human rights groups have also reported that factories which pass human rights audits are still able to operate with workers subjected to inhumane working environments.[7]

References

  1. ^ a b c Intertek: History
  2. ^ False data charges threaten Intertek flotation
  3. ^ "Wolfhart Hauser: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8578022&ric=ITRK.L. Retrieved 2009-09-17. 
  4. ^ "William Spencer: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8578106&ric=ITRK.L. Retrieved 2009-09-17. 
  5. ^ "Mark Loughead: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8578014&ric=ITRK.L. Retrieved 2009-09-17. 
  6. ^ Environmental Testing Fraud Townsend Letter for Doctors & Patients, January 2001
  7. ^ High Tech Misery in China: The Dehumanization of Young Workers

External links

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United Kingdom FTSE 100 companies of the United Kingdom

As of 5 November 2009.

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This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)

 
 

 

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