EMEA News
DNV, GL to Merge
Classification societies Det Norske Veritas of Oslo, Norway and Hamburg, Germany-based Germanischer Lloyd SE (GL) announced today that they will merge, creating a firm that will be one of the largest of its kind.
The combined entity, to be called DNV GL Group, will be one of the top three management system certification organisations in the world, the firms said.
"The merger rests on a strong strategic rationale, and responds to challenges of increased globalisation, rapid technological change and the need for sustainable development," said DNV's Group CEO, Henrik O. Madsen, who will be the CEO of the combined new company.
"Our customers will benefit from an increased service offering and global competence base as well as one of the densest networks."
The new company, organised as a Norwegian limited liability company, will be 63.5 percent owned by the DNV Foundation, and GL's owner Mayfair SE will hold 36.5 percent.
The new company, with 17,000 employees, will be headquartered in Høvik, Norway, outside of Oslo, while its maritime business unit will be based in Hamburg, its energy division in Arnhem, the Netherlands, and its business assurance business in Milan, Italy.
Arne Langøy, Chairman of DNV's Board of Directors, said the merger comes after discussions about closer cooperation between the organisations in 1999/2000 and in 2006.
The merger requires approval from competition authorities before it can close.
DNV, founded in 1954, has more than 10,000 employees and operates in three divisions: Maritime and Oil & Gas, KEMA Energy & Sustainability, and Business Assurance, according to its website.
GL's divisions are Maritime, Oil & Gas, and Renewables, and it has about 6,900 employees at more than 200 offices in 80 countries, according to its website.
