Bureau Veritas acquires SIEMIC,
a specialist in electronic equipment in Silicon Valley and Asia

 

Wendel welcomes the acquisition by Bureau Veritas of SIEMIC, Inc., an American testing and certification body for electrical and electronic equipment active in the Silicon Valley and in Asia.

 

Established in 2003, SIEMIC provides market access services for electrical and electronic products in the telecoms, consumer, automotive and medical sectors and works with global manufacturers, including many of the world's leading brands. SIEMIC provides a comprehensive range of testing, certification and international approvals management services. Its headquarters and main operation are located in Milpitas, Silicon Valley, USA; however, it also benefits from testing facilities in both California and China and branch offices in Taiwan.

 

As a leading Telecommunications Certification Body (TCB), SIEMIC issues thousands of certifications per year to attest compliance with Federal Communications Commission regulations in the USA for wireless and telecommunications equipment. It employs nearly 100 people and generated estimated revenue of EUR 9.5 million in 2016.

 

Following this acquisition, Bureau Veritas now has 5,800 employees in the United States and Canada.

 

This transaction will contribute positively to Bureau Veritas long-term value creation. Wendel is the controlling shareholder of Bureau Veritas with 41.2%[1] of its capital. Since Wendel's first investment in Bureau Veritas in 1994, the company has made more than 150 acquisitions.

 

Wendel Financial calendar

 

3/23/2017

2016 full-year earnings / Publication of NAV (pre-market release)

In Paris


5/18/2017

Shareholders' Meeting / Publication of NAV and trading update (before Shareholders' Meeting)

In Paris


9/7/2017

H1 2017 earnings / Publication of NAV (pre-market release)

By conference call


11/30/2017

2017 Investor Day / Publication of NAV and trading update (pre-market release)


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, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. 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 exceet in Germany, Mecatherm in France, Nippon Oil Pump in Japan, Saham Group and SGI Africa 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.


For more information: www.wendelgroup.com

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Press contacts                                                                                                                                                       Analyst and investor contacts

Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24                                                                                                           Olivier Allot: +33 (0)1 42 85 63 73

c.anglade@wendelgroup.com                                                                                                                                                      o.allot@wendelgroup.com

                                                                                                                                             

Caroline Decaux: +33 (0)1 42 85 91 27                                                                                                                       Elisa Muntean: +33 (0)1 42 85 63 67

c.decaux@wendelgroup.com                                                                                                                                                e.muntean@wendelgroup.com



[1] Share of equity owned as of November 30, 2016, including 2.8 million shares purchased in November 2016.