TÜVRheinland’s Proposed Merger Is Off

The management boards of Newtown-based TÜVRheinland and TÜV SÜD have withdrawn their application for a merger from Germany’s regulatory authority Bundeskartellamt. The two companies first began merger talks in February of last year.

Company officials made the decision to withdraw their application because the new conditions to meet regulatory requirements made it unwieldy to proceed with the merger as planned.

 “Although such a merger would have been an exciting proposition, TÜV Rheinland Group is well positioned in North America, and management will continue to grow the company’s footprint in this important global region in 2009. We have great confidence that our North American operations will continue to be successful as we move forward,” said TÜVRheinland North America Holding Company’s President and CEO Stephan Schmitt.

TÜVRheinland’s operations in North America have grown at an accelerated rate in 2008 by offering a broader range of services to the business community. The company acquired two materials testing firms: Unified Testing Services in July and Non Destructive Testing this past December.

Additionally, TÜVRheinland started a new joint venture with Arizona State University in October to establish TÜVRheinland PTL, the largest photovoltaic and solar equipment testing center in North America.