TÜV SÜD and TÜV NORD remain independent

TÜV SÜD and TÜV NORD remain independent

Munich/Hanover. TÜV SÜD and TÜV NORD have mutually agreed to end merger negotiations between the two companies and remain independent. The two service corporations headquartered in Munich and Hanover cited in-depth analyses of national and international competition as grounds for their decision. These had revealed that TÜV SÜD and TÜV NORD can react faster and more flexibly to global market requirements when operating independently than as a large alliance.

"A merger between the two companies would have involved major integration efforts and also tied up our operational resources for quite some while", noted the Chairmen of the Boards of Management of the two companies, Dr. Axel Stepken and Dr. Guido Rettig, when commenting on the decision. Facing increasingly fierce international competition, TÜV SÜD and TÜV NORD will now continue to improve their services independently and pursue their own separate strategies. Rettig and Stepken nevertheless emphasized that they intended to continue or even intensify co-operation on a project-specific basis in individual fields of activity.

Editor: Rainer Strang