Coffey sells Western Australian-based MPL Laboratories to Envirolab Services

(22 December 2009) Global professional services consultancy Coffey International Limited ((ASX:COF) ("Coffey")) today announced it has signed an agreement to sell 100 per cent of the fixed assets and going business concern of MPL Laboratories Pty Ltd ("MPL"), an analytical laboratory business based in Myaree, Western Australia to Envirolab Services Pty Ltd ("Envirolab").

The sale value is not material to Coffey and is undisclosed for reasons of commercial confidentiality for Envirolab.

MPL provides analytical laboratory services in the areas of inorganic and organic chemistry, microbiology, asbestos and air monitoring. It employs around 30 staff and is a NATA accredited laboratory. In the financial year ended 30 June 2009, MPL generated revenues of just under A$4 million.

Coffey acquired MPL in September 2005 as part of the Farsands Solutions Limited acquisition, which also included project management company Clifton Coney, now part of Coffey Projects.

Coffey has decided to sell MPL as the analytical laboratory services sector is not a core business activity.

Purchaser Envirolab is a privately owned Australian company based in Sydney looking to enter the Western Australian market and grow its presence there.

Coffey managing director Roger Olds said: "Coffey’s three year growth plan is to be a leading service provider in the sectors in which we operate and the geographical locations in which we are currently located. We are focused on growing our market-leading specialist services organically and through bolt-on acquisitions."

Media contact

Diana Krause, Global Manager External Communication, Coffey
T: +61 3 9473 1300; M: +61 420 959 942; E: diana_krause@coffey.com