CGNU plc (“CGNU”) has agreed the sale of Plant Safety Limited (“Plant Safety”), its UK in-service inspection business to Bureau Veritas SA (“Bureau Veritas”), the global inspection, certification and consultancy business.
CGNU plc (“CGNU”) has agreed the sale of Plant Safety Limited (“Plant Safety”), its UK in-service inspection business to Bureau Veritas SA (“Bureau Veritas”), the global inspection, certification and consultancy business.
CGNU will remain a major customer of Plant Safety through an outsourcing arrangement for the next five years.
The net asset value of Plant Safety as at 31 December 2000 was Ł3 million.
Enquiries:
Analysts
James Matthews, Head of Investor Relations
+44 (0) 20 7662 2137
Media
Ian Frater, Head of Group Media Relations
+44 (0) 20 7662 8221
Stuart Blackmore, Financial Dynamics
+44 (0) 20 7269 7107
Notes to editors
- CGNU is the world's seventh-largest insurance group and the largest insurer in the UK. It has worldwide premium and investment sales from ongoing business of Ł27 billion, and more than Ł200 billion in assets under management at 30 June 2001.
- The most recent financial reports are available on this internet site
- CGNU’s insurance businesses in the UK operate under the Norwich Union brand where it is the leading general insurer with a market share of approximately 19% and ongoing net written premiums of Ł4,937 million in the 12 months to 31December 2000.
- Bureau Veritas is global provider of specialized services in the areas of Conformity Assessment including Classification, Certification, Inspection and Testing; Consulting & Training and Outsourcing for customers in major industrial sectors.
- Bureau Veritas’ expertise covers the major industrial sectors of : Marine, Industry (Energy & Process, Manufacturing), Aeronautics and Space, Construction, Government Contracts, Consumer Products, Food, Health, Services and Transport & Logistics.
- Bureau Veritas has a presence in 120 countries through 500 offices world-wide and a qualified workforce of more than 10,000 technical experts. It is recognised as a worldwide reference in technical advice and conformity assessment and is dedicated to Quality, Health and Safety and Environmental Management (“OHSE”).