The French classification and certification company Bureau Veritas (BV) is planning to take over German competitor Germanischer Lloyd (GL). The offer to the GL shareholders was not discussed with the Management Board and can therefore be viewed as a hostile takeover.
What consequences a possible merger will mean for the German classification and certification market in water sports cannot yet be foreseen, said Dr. Olaf Mager, press spokesman for Germanischer Lloyd. The “Recreational Craft” market, as GL describes the area of interest to sailors, accounts for a small proportion of the company's sales volume. Last year the company tested over 400 charter yachts and set new standards in the construction of carbon rigs.
The classification and certification of economic goods is prescribed by the EU. Patent protection plays just as important a role as compliance with quality and safety standards. Ships and all marine accessories must also meet this standard. One of these seals is behind the abbreviation CE, which can be found on many everyday objects.
Like Bureau Veritas, Germanischer Lloyd issues such classifications and certifications, especially in the shipping market. The German firm is the world market leader in container freighters, while BV specializes in liquefied gas tankers, ferries and cruisers. Both companies also place their seal of approval on ships in the recreational shipping industry.