Philip Analytical Acquires InNOVAcorp's Test Services

Philip Analytical Services Corp. today announced that it has acquired the chemistry, microbiology and materials testing businesses of InNOVAcorp, a Nova Scotia Crown corporation.

"The addition of InNOVAcorp's experienced staff, advanced testing equipment and its wide range of business and institutional clients will support the continued expansion of our client services," said Murray Hartwell, Philip's general manager in the Atlantic region. "Philip Analytical operates from 14 locations within Canada and the United States. When combined with the more than 200 offices of our parent, Philip Services Corp., we are well positioned to grow these businesses throughout North America.

"In particular, the integration of InNOVAcorp's testing services with our existing businesses will enhance our services to the oil and gas industry and our consulting clients."

Ross McCurdy, chief executive officer of InNOVAcorp, stated:
"InNOVAcorp's focus has moved from providing engineering and scientific services to playing a leadership role in the commercialization of technology. This spinoff fulfils the mandate of InNOVAcorp, by working in partnership with the private sector rather than competing with it. We developed and fostered the technical expertise, for which we received fair return. Philip has the expertise and the infrastructure to expand the technology in the marketplace."

InNOVAcorp was established in 1995 to bring all of the province's technology initiatives into one cohesive unit. It is a one-of-a-kind organization with a twofold mandate: help entrepreneurs commercialize their technology and play a key role in forming partnerships that will help specific industry sectors grow.

InNOVAcorp currently focuses on the areas of life sciences, information technology and advanced materials engineering.

Philip Analytical Services Corp., a wholly owned subsidiary of Philip Services Corp., is the largest environmental analytical testing company in Canada and currently ranked in the Top 10 in North America in revenues. Philip Analytical provides testing services for a complete range of environmental samples including waters, soils, sediments, solid wastes, stack emissions, ambient air and tissues. Clients include consulting engineers, industry, all levels of government and private individuals.