TUV Rheinland and TUV SUD move to merger

Combined technical services group will emply 25,000 people, with core competencies in testing, inspection, certification and training.

TUV Rheinland Holding and TUV SUD plan to merge in a move expected to create an internationally powerful technical services group with core competencies in testing, inspection, certification and training.

The new company would employ about 25,000 people worldwide and achieve sales of more than Eur 2.2 billion.

The project is subject to approval by the responsible antitrust authorities and the relevant committees of the associations and the groups.

"A strong international company with a strong German brand, providing economic added value to its customers through neutral testing and certification of quality and safety is becoming even stronger internationally", says Prof Dr-Ing habil Bruno O Braun, CEO of TUV Rheinland.

"The merger gives us significantly greater international capability and reach".

"We will become even more attractive as an employer for qualified specialists and managers".

The CEO of TUV SUD, Dr-Ing Axel Stepken, adds: "This merger is about international growth".

"Through the planned merger we are creating one of the biggest and most efficient groups for testing and certification, both nationally and internationally".

"Already today, significant shares of the sales of both companies come from outside Germany".

"Combining our strengths will enable us to faster access and expand international growth markets".

The merger is not expected to result in any job losses.

In addition to the merger of associations and the groups, it is also planned to set up a joint foundation to hold shares in the new group as an independent third party.

One of the major roles of the foundation will be the promotion of the next generation of engineers.

It is planned to locate the merged associations and the foundation in Cologne.

The headquarters of the merged group will be based in Munich.

The current CEO of TUV Rheinland, Prof Braun (65), will head the Managing Board of the new group.

His deputy and designated successor will be Dr Stepken (49), the current CEO of TUV SUD.

The handover is scheduled for 1st January 2010, after which Prof.

Braun will switch to the Supervisory Board and become its Chairman.

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