DNV-GL Merger Clears Last Hurdle, Running as a Single Entity From Today

by Ship & Bunker News Team
Thursday September 12, 2013

Det Norske Veritas (DNV) and Germanischer Lloyd SE (GL) say they are immediately beginning operations as a single company, called DNV GL Group, after winning approval from competition authorities.

"It is with great pride that we can now inform that this vision-driven merger for growth has been cleared by the competition authorities in all four required jurisdictions," said Henrik O. Madsen, Group CEO of the new company.

"The merging companies both represent leading market positions, complementary commercial positions and an acknowledged reputation for advanced technology and high quality and integrity.

The merger had already received clearance from authorities in the European Union (EU), the U.S., and South Korea as of last week and now has approval from China as well.

The new company has 17,000 employees at 300 sites in more than 100 countries and has revenues of €2.5 billion ($3.3 billion) per year.

The company said it has been planning for the integration for the past six months, allowing it to start running as a single entity as of today.

"DNV GL will be uniquely positioned to offer a broader set of products and services, more in-depth expertise and a denser global network of sites second to none." Madsen said.

"And importantly, there is a strong commitment by both DNV and GL to the merged company continuing to invest heavily in technology, research and innovation."

Ship & Bunker News Team
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