Wendel welcomes the acquisition by Bureau Veritas of a 70% equity stake in Ningbo Hengxin Engineering Testing Co., Ltd ("Ningbo Hengxin"), a Chinese company specialized in non-destructive inspection and metallurgical testing.
Founded in the 1970s, the company is based in Ningbo, one of the economic hubs of Zhejiang province. Ningbo Hengxin is located in Zhenhai Petrochemical and Refinery Center, one of the largest petrochemical clusters in Asia. Ningbo Hengxin provides services to the oil and chemical industry principally in eastern China. It employs more than 330 people with a revenue of around € 16 million in 2014.
This second acquisition in China since the beginning of the year reinforces the current presence of Bureau Veritas into the industrial equipment and infrastructure inspection Chinese market sector, and allows it to take full advantage of the strong growth of this sector.
This transaction will contribute positively to Bureau Veritas long-term value creation. Wendel is the main shareholder of Bureau Veritas with 51% of its capital.

2015 Calendar

 		  
Publication of 2014 earnings / Publication of NAV (pre-market release) Thursday, March 26, 2015
Shareholders' Meeting / Publication of NAV and trading update Friday, June 5, 2015

About Wendel

Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Materis Paints, Stahl and IHS in Africa. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of Van Gansewinkel Groep in the Netherlands, exceet in Germany, Mecatherm and Parcours in France, Nippon Oil Pump in Japan, Saham Group in Africa and CSP Technologies in the United States.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: BBB-, stable outlook - Short-term: A-3 since July 7, 2014.
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.

Press contacts

Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24
c.angladepirzadeh@wendelgroup.com:
mailto:c.angladepirzadeh@wendelgroup.com
                                                                                                                                                                  
Analyst and investor contacts
Olivier Allot: +33 (0)1 42 85 63 73
o.allot@wendelgroup.com:
mailto:o.allot@wendelgroup.com


Bureau Veritas: acquisition of Ningbo Hengxin:
http://hugin.info/143616/R/1886216/666912.pdf


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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: WENDEL via Globenewswire
HUG#1886216