VTT to sell its testing operations to Eurofins Scientific
04 Jan 2018 --- VTT Technical Research Centre of Finland Ltd has entered into a binding agreement to sell its wholly-owned subsidiaries VTT Expert Services Ltd and Labtium Oy to Eurofins Scientific Group.
“VTT Expert Services Ltd and Labtium Oy are supplying commercial testing, inspection and certification services. These services are not sufficiently connected to VTT’s strategic goal to support innovation through science-based solutions and technology development. The continuous development of these companies according to industry requirements is easier as part of Eurofins Scientific Group than as part of VTT Group,” explains Antti Vasara, CEO, VTT Technical Research Centre of Finland Ltd.
VTT CFO, Tanja Huoponen told FoodIngredientsFirst: “The sale of two subsidiaries supplying commercial testing, inspection and certification operations to Eurofins Scientific Group means that VTT can focus all of its efforts and funds to fulfilling VTT’s strategic goal to support innovation by science-based solutions and technology development.”
The acquisition will require a customary regulatory approval and is expected to close in the course of the first quarter of 2018. Further details related to transaction price are not publicly available information.
VTT Technical Research Centre of Finland Ltd is the leading research and technology company in the Nordic countries. VTT uses its research and knowledge to provide expert services for our domestic and international customers and partners, and for both private and public sectors.
By Elizabeth Green
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