Merger Approved: Noble Denton, GL
The Norwegian cartel authority Konkurransetilsynet has approved the merger of Noble Denton with Germanischer Lloyd (GL). The two companies had announced their merger on 1 April 2009. Together, Germanischer Lloyd and Noble Denton will form a global technical assurance and consulting company to serve the oil and gas sector. The purchase of Noble Denton is the largest corporate acquisition in the history of Germanischer Lloyd. Germanischer Lloyd and Noble Denton will provide consulting, assurance as well as project management on a worldwide scale especially for the oil & gas and renewable energy sectors as well as for the maritime industry. The spectrum of services ranges from design and construction, transportation and installation.
Noble Denton joins GL Group
The merger of Noble Denton and Germanischer Lloyd forms an integrated technical assurance and consulting company to serve the worldwide energy industries. The new entity will provide assurance, inspection, and consulting as well as project management. It will focus its worldwide services along the entire life cycle oil and gas - upstream, midstream, and downstream, renewable and energy installations onshore and offshore. This includes safety, integrity, reliability and performance management. Germanischer Lloyd, headquartered in Hamburg, Germany, and Noble Denton, headquartered in London have followed similar growth strategies. Both organisations have conducted a number of acquisitions recently to complement their areas of expertise.
GL Continues to Grow
Germanischer Lloyd continues its growth strategy of previous years. The classification society presented its financial figures for 2007 and announced a turnover of 421.7 million Euros. This is a gain of 57.3 million Euros (+16 %) compared to 2006. In the maritime sector, the good order situation of the previous year could be further improved. This business field achieved a turnover of 297.6 million Euros. Extension of the industrial sector was accomplished through both organic growth - especially in the business fields Oil & Gas and Wind Energy - and the acquisition of British Advantica Group (September 2007) as well as the Canadian companies Hélimax (October 2007) and PV Inspections (November 2007). The Industrial Services achieved a turnover of 124.1 million Euros.
