Applus sells its non-destructive testing and inspection business in the United States

MADRID, 30 Mar. (EUROPA PRESS) -

Applus has signed an agreement to sell 100% of its US non-destructive testing and inspection business, which primarily serves the oil and gas industry, to a financial investor.

As reported by the company to the National Securities Market Commission (CNMV) this Thursday, the operation is subject to certain regulatory approvals and is expected to be completed in the coming months.

Applus has specified that, although the price of this transaction "is not material", with it it will improve its profitability and the return on the capital employed and "it will reinforce the quality of its portfolio".

The business from which the company has divested generated a turnover of approximately 100 million euros in 2022, with operating losses, "in challenging competitive conditions in the local market in recent years," the company underlines.

Applus will continue with the rest of its North American businesses, which now account for around 10% of group revenue.

In recent months, the company has announced three underperforming divestitures, with turnover of approximately €150 million in 2022.

In addition, since the Strategic Plan was announced in November 2021, Applus has made seven acquisitions and the purchase of the 20% minority stake in the ITV business in Galicia that it did not already own.

In total, to date, the company has invested approximately €100 million in strategic areas of the portfolio that improve the service offering in its most sustainable, fastest-growing, and best-margin businesses.

Joan Amigó, CEO of the Applus Group, highlighted that the sale of its non-destructive testing and inspection business in the United States demonstrates the company's commitment to the strategic plan, "which includes accelerating the active management of the portfolio to improve the quality and mix of services and generate sustained value creation", he added.