The merger between DNV-Kema and GL Group (owner of Germanischer Lloyd) has been given international approval, and the new company - DNV GL - is now operational, effective 12 September. The merger was first agreed in December last year.
DNV GL will be the world's largest shipping and offshore classification society to the maritime industry, a leading provider of technical assurance and risk management services to the oil & gas industry and a leading expert in wind and power transmission and distribution. DNV GL also takes the position as one of the top three management system certification bodies in the world.
The competition authorities in the USA, the EU, China and South Korea have cleared the merger between the two companies, both of which will soon (in 2014) celebrate 150 years of independent operations. The new company, formally called DNV GL Group, will comprise 17,000 employees across 300 sites in more than 100 countries, and have annual revenues of € 2,500 million.
Henrik O. Madsen, group CEO of DNV GL, commented that this first consolidation of the two classification societies will be a global game changer. "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. 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."
An increasingly complex risk environment for customers is expected to drive demand for the new company's technology, risk management services and independent expertise. Madsen again. "In today's risk-sensitive environment, a company's failure to manage risk properly may lead to adverse events, loss of life, damage to the environment or critical business consequences, putting trust and credibility at risk. I firmly believe that DNV GL will be in a stronger position to help companies manage their challenges in the new risk reality and enable them to advance the safety and sustainability of their operations."
The past six months have been taken up with integration planning so that the new company was ready to start operating as one company with effect from 12 September. All certificates and approvals from DNV and GL will remain valid. In the coming months, DNV GL will accelerate integration processes to ensure consistent and continuous service operations.
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