Tuesday, December 25th, 2012

Two of the worlds largest Classification companies are to merge.

An agreement has been signed to merge Det Norske Veritas (DNV) and Germanischer Lloyd (GL).
The new entity will be called DNV GL Group. It will be one of the world’s leading ship classification societies and risk experts in the oil and gas, renewable energy and power sectors, and among the global top three within management system certification.

“The merger rests on a strong strategic rationale, and responds to challenges of increased globalisation, rapid technological change and the need for sustainable development.

Customers should benefit from an increased service offering and global competence base as well as one of the densest networks.

By combining the two international organisations, the new company will be one of the world’s leading independent technical service providers with state-of-the-art technological expertise and strong capabilities for innovation.

With more than 17.000 employees and an extensive global network of offices, the new group is positioned to meet increased international competition.

The DNV Foundation will hold 63.5 %, while GL’s owner Mayfair SE will hold 36.5 % of the shares.

The new company, with a combined turnover of some EUR 2.5 billion, will be headquartered and registered in Norway.

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