CSA Group announces sale of QMI Division to SAI Global Limited
Toronto, ON –February 25, 2008 – Robert M. Griffin, President and CEO, CSA Group today officially announced that CSA Group has finalized an agreement for the sale of its QMI (Quality Management Institute) division, a leading North American registrar, to SAI Global Limited (ASX:SAI) of Sydney, Australia, for $40 million Canadian. An Asset Purchase Agreement has been signed and financial completion is scheduled for February 29, 2008, subject to customary closing conditions.
“The decision to accept the offer was made by the Board of Directors of the Canadian Standards Association (CSA Group) based on the best opportunity for QMI to further its growth and business strategy by becoming a part of a large global player in the auditing and management systems registration business,” says Mr. Griffin. “The executive leadership team appreciates the commitment and dedication of its QMI employees and loyalty of QMI clients. We have taken measures to ensure that the transfer in ownership will result in a seamless transition of services and employment.”
Headquartered in Toronto, Ontario, Canada, QMI has more than 400 certified audit professionals and holds accreditation with major accreditation bodies. Established in 1984, QMI has issued thousands of certificates in North America and overseas to national and international management system standards such as the International Organization for Standardization (ISO) 9000 quality management standards and ISO 14000 environmental management standards. QMI also registers companies to various food, health care, forestry and aerospace standards.
CSA Group’s business plan moving forward is to focus its strategy and investments towards standards development in innovative and emerging areas such as climate change, nanotechnology, infrastructure and health care, as well as expanding service solutions in certification and testing, product performance evaluations services and inspection and advisory services for retailers and manufacturers. Proceeds of the sale will be used by CSA Group to further standards development and provide sustainable funding to fulfill CSA Group’s purpose of making “standards work for people and business”.
About CSA Group
CSA Group is an independent, not-for-profit membership association serving business, industry, government and consumers. CSA Group consists of three divisions: Canadian Standards Association, a leading solutions based standards organization, providing standards development, application products, training and advisory services; CSA International, which provides testing and certification services for electrical, mechanical, plumbing, gas and a variety of other products; and OnSpeX, a provider of consumer product evaluation, inspection and advisory services for retailers and manufacturers. For more, visit
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