Last December, risk management firm in the maritime and extractive sectors, DNV and classification and consulting specialists Germanischer Lloyd (GL) announced a merger.“The merger with DNV supports our long-term goal of being recognized as one of the most respected technical assurance and advisory companies in the world,” GL Group CEO, Erik van der Noordaa said about the move.

By consolidating the two classifications companies, the new DNV GL will be free to invest in technology and innovation in response to customer demand for enhanced risk management services. In the shipping and logistics sector, as in extractives, risk is closely tied to technology. If the latter fails, the former will become an unwanted issue. Innovation and technological development both responds to increasingly stringent international legislation and environmental regulations.

“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. The merging companies both represent leading market positions, complementary commercial positions and an acknowledged reputation for advanced technology and high quality and integrity,” Henrik O. Madsen, Group CEO of DNV GL, says.

The newly-combined company sought to become the world leader in maritime and extractive risk management, consulting and classification. Today, the newly-joint DNV GL has announced that it’s merger has been approved by competition and trust authorities in the EU, U.S., China and South Korea. The joint company, which officially comes into existence tomorrow, has been a dream in the making for DNV and GL for the past 12 years.