Bureau Veritas enters the mandatory technical construction supervision market in rapidly urbanizing Southwest China

03.March 2016 at 17:45:00 CET

Bureau Veritas enters the mandatory technical construction supervision market in rapidly urbanizing Southwest China

Neuilly-sur-Seine, France, March 03, 2016 - Bureau Veritas is pleased to announce it has finalized the acquisition of a 80% equity stake in Chongqing Liansheng Construction Project Management Co., Ltd. ("Chongqing Liansheng").

Founded in 1994, Chongqing Liansheng possesses required licenses granted by the Chinese authorities to provide mandatory construction project supervision. The company focuses on building and infrastructure construction, from public transportation and utilities projects to high-end real estate, and industrial projects. Based in Chongqing, a fast-growing municipality of 33 million people in Southwest China, the company is a regional leader with more than 900 employees. Its revenue for 2015 was around EUR 30 million.

"We are further consolidating our operational platform in China, a priority country for the Group, following several successful operations conducted last year. This acquisition fits perfectly with our mid- to long-term strategy to both expand our regional presence and become a key player in the Chinese domestic market. It strengthens our global leadership in construction", said Didier Michaud-Daniel, CEO of Bureau Veritas.

"We are pleased to join forces with Bureau Veritas to offer our clients an extended range of quality services for large urbanization projects. This strategic alliance will enable us to benefit from the large domestic footprint of Bureau Veritas in building and infrastructure and expand our reach beyond the west and central regions" added Kaigui LEI, President of Chongqing Liansheng.

About Bureau Veritas

Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has 66,000 employees located in 1,400 offices and laboratories around the globe. Bureau Veritas helps its clients improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.
Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, visit
www.bureauveritas.com


Contacts  
Analysts/Investors:
Claire Plais: +33 (0)1 55 24 76 09
Mark Reinhard: +33 (0)1 55 24 77 80
finance.investors@bureauveritas.com
Press:
Véronique Gielec: +33 (0)1 55 24 76 01
veronique.gielec@bureauveritas.com

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