Deal Combines Geographic Strength to Achieve Top Five Global Market
NORTHBROOK, Ill., April 1, 2008 /PRNewswire/ -- Underwriters Laboratories (UL), a world leader of product safety testing services, announced today that its Management System Solutions business will merge with DQS, a leading global registrar in independent third party management system certification services headquartered in Frankfurt am Main, Germany.
Under the agreement, the new entity will operate as a separate, stand-alone organization, with UL maintaining an ownership share. John Schmidt, UL's Chief Development Officer, will sit on its Supervisory Board. Financial terms have not been disclosed.
"This is a synergistic joining of companies with complementary geographic strengths and a shared commitment to customer service and technical excellence," said Keith Williams, UL's President and CEO. "By combining forces, we will achieve a top five global market position in the management system certification industry, and we will have the capacity to serve as a leading provider of these services in every major geography."
This merger will meet the growing market demand to offer a full suite of services to customers who are expanding globally. It will also enable UL to provide a broader scope of management system registration services to better serve its valued customers.
"Our businesses share a dedication to ensuring the sustainable success of management systems and processes," added Stefan Heinloth, Managing Director of DQS. "As organizations of all sizes and scope of industry face more and more challenges due to the speed of change within both domestic and international markets, the need for superior, secure management systems becomes paramount."
About Underwriters Laboratories:
Underwriters Laboratories is an independent, not-for-profit product
safety certification organization that has been writing St
|SOURCE Underwriters Laboratories|
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