Bureau Veritas and RINA Form Alliance
 
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Bureau Veritas and RINA Form Alliance

      2/14/2001

Bureau Veritas and RINA Form Alliance

Classification societies Bureau Veritas and RINA have agreed to form an alliance. A letter of intent signed by both parties sets a period of 90 days for due diligence and finalising details of the future structure of the alliance. It is expected that the board of RINA will retain a controlling shareholding in RINA’s marine business, and that BV will take a controlling stake in RINA’s industrial and certification business. The alliance will preserve the identity of both classification societies and focus initially on technical co-operation in the marine field.

Executive vice president of Bureau Veritas, Bernard Anne, said "We are very pleased to have reached an agreement with RINA which will build on our experience of working together in UNITAS, and which will form the foundation of a future world ranking European classification society. Italian shipowners will benefit from the technological co-operation and worldwide network, which BV can bring to the alliance. We are confident that our experience in the industry and certification sectors will help RINA widen its range of services and create more employment in Italy."

Nicola Squassafichi, chief executive of RINA, said "We concluded over eighteen months ago that it would be in the best interests of our clients if RINA could form an alliance which would strengthen our global outreach. At the same time, we wanted to ensure that RINA’s unique skills and wide experience would be retained and our proud tradition preserved. This alliance with BV will strengthen RINA and help us to grow, which will benefit our clients and our staff."


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