German company acquires Advantica

Advantica has announced that on Friday 31st August the company was acquired by Germanischer Lloyd, a German engineering consultancy based in Hamburg. All staff currently employed by Advantica will remain with the business and Germanischer Lloyd has invited the management team to remain in place. Whilst the roots of Germanischer Lloyd's business lay in the maritime sector, their rapidly growing Industrial Services business provides technical offerings...

HAMBURG, Germany, Dec. 7, 2007 -- Advantica has announced that on Friday 31st August the company was acquired by Germanischer Lloyd, a German engineering consultancy based in Hamburg.

Brian Gunn, CEO, Advantica commented "The successful completion of this deal represents a truly excellent outcome for both Advantica and Germanischer Lloyd. We are excited about the opportunities this presents the company, and its staff, clients and suppliers worldwide."

All staff currently employed by Advantica will remain with the business and Germanischer Lloyd has invited the management team to remain in place. It continues to be 'business as usual'.

Whilst the roots of Germanischer Lloyd's business lay in the maritime sector, their rapidly growing Industrial Services business provides technical offerings in the areas of examination, certification and engineering consultancy. These focus mainly on oil and gas installations and wind energy but also on system certification and materials and failure analysis.

Advantica provides a wide range of valuable skills, adjunct market opportunities and complementary offerings to enable faster growth of this business across a wider market. Similarly, Germanischer Lloyd's established presence in continental Europe, the Middle East and the Far East provide a substantial catalyst for the development of Advantica's offerings in these geographies.

"The acquisition of Advantica will considerably extend our service portfolio as a full-line provider for the lifecycle of oil and gas installations," says Lutz Wittenberg, Managing Director Germanischer Lloyd Industrial Services.

For more information regarding Germanischer Lloyd, see: http://www.gl-group.com

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