Eastern European Markets
May 13, 2005

IBNA becomes a subsidiary of Inspecta

Finnish inspection company Inspecta Oy acquires business activities of the Latvian inspection company IBNA. Both companies are market leaders in their countries. Their business area is conformity assessment, which includes technical inspection and testing of safety critical objects like pressure equipment, pipelines, cranes, lifts etc. Inspecta is also active in measuring techniques and in certification of quality management systems, construction products and NDT operators. Main clients of both companies are industrial enterprises and other business life.

IBNA employs 50 people in Latvia and has annual turnover of 1 million euros. Inspecta employs 430 people in Finland and has annual turnover of 38 million euros.

IBNA was founded in 1993 by private persons and has steadily grown to its present position. Inspecta was founded in 1975 and was previously owned by the state of Finland but was privatised in 2002. Present main owner of Inspecta is a Finnish capital investor MB Funds. Inspecta has within last five years grown remarkably by business acquisitions.

This arrangement gives Inspecta strong presence at the Baltic market and IBNA more power to strengthen its position as the leading operator in the Baltic area. Clients will have developing supply of reliable conformity assessment services. Both companies are members of CEOC, the international association of conformity assessment bodies.

For further information
Simo Hassi, Girts Sprancis
Managing Director, Marketing manager
Inspecta Oy, A/S IBNA
+358 50 2255 +371 7607900

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