Eurofins expands its footprint in the Balkan region
Acquisition of Environmental Research & Industrial Co-operation in Slovenia
Eurofins Scientific announces that it has signed an agreement to acquire Environmental Research & Industrial Co-operation (“ERICo”), the leading independent laboratory for environment testing services in Slovenia.
As the largest private environment testing laboratory in the country, ERICo provides a comprehensive portfolio of analytical services for water, air and soil testing. The company also provides research and consultancy as part of its analytical service offering. Founded 25 years ago, the company employs 46 staff at its laboratory in Velenje, northeast Slovenia, and serves primarily the largest industrial companies including power plants and coal mines, as well as public municipalities. In addition, ERICo has GMP capabilities for pharmaceutical products testing, although this represents a small portion of its business at present.
This acquisition therefore represents a solid entry platform, on which Eurofins can deploy its full range of capabilities, rapidly increase penetration and gain market share in Slovenia. Furthermore, with a modestly growing economy, Slovenia represents good growth opportunities in the medium term as outsourcing to private independent laboratories should also continue to ramp-up.
Comment from Marijan Penšek, Senior Vice President, Gorenje Group: “We believe ERICo will benefit from becoming part of the Eurofins Group, and getting access to its wide range of technical expertise and its network capabilities. We look forward to continued collaboration between Eurofins and ERICo’s former shareholders, the Gorenje Group (the largest hardline manufacturing company in the country), Termoelektrarna Šoštanj (a regional power plant) and Premogovnik Velenje (a regional coal mine).”
Comment from Dr. Gilles Martin, Eurofins’ CEO: “ERICo provides Eurofins a good entry into the analytical testing market in Slovenia and reinforces our footprint in central and eastern Europe. We are looking forward to contributing to, and strengthening ERICo’s position in its market, as well as expanding the portfolio of tests it offers to customers by offering the full range of services and capabilities of the Group.”
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