Bureau Veritas Company Research Report
Company Overview
Name and Mission of the Company
Bureau Veritas
Bureau Veritas is a global leader in laboratory testing, inspection, and certification services. Their mission is to shape a world of trust by ensuring responsible progress. They support clients in managing quality, safety, health, and sustainability risks, benefitting society as a whole.
Founding Information
- Founded: 1828
- By Whom: No specific founder mentioned
Key People in the Company
- Hinda Gharbi - Chief Executive Officer
Headquarters
- Location: 40-52 Boulevard du Parc, 92200 Neuilly-sur-Seine, France
Number of Employees
- Employees: 83,000 worldwide
Revenue
- Revenue: €5.9 billion in 2023
What is the Company Known For
Bureau Veritas is recognized for its comprehensive service offerings in five key areas: quality, health & safety, environment, social responsibility, and sustainability across a variety of sectors, ranging from Marine & Offshore, Food, Consumer Products, to Oil & Gas, and Renewable Energy.
Products
Product Offerings
Bureau Veritas offers a wide array of services across several critical markets, including:
1. Laboratory Testing
- Highly specialized testing services aimed at verifying the safety and quality of products.
2. Inspection Services
- Offering services to ensure compliance with relevant standards and regulations across various sectors.
3. Certification Services
- Provides validation of a business or product in accordance with international standards.
Key Features of Each Product/Service
- Laboratory Testing: Employing over 1,900 technical staff and operating 34 laboratories across the Americas, Africa, Asia, and the Pacific.
- Inspection: Ensures the operational efficiency and safety of client projects and processes.
- Certification: Grants assurance regarding the safety and standard compliance of business operations and products.
Recent Developments
Recent Developments in the Company
- Portfolio Refocus and Sale of Food Testing Business: Announced an agreement to sell its Food testing business to Mérieux NutriSciences as part of their LEAP | 28 strategy.
Date: October 7, 2024
- Acquisitions:
- IDP Group Acquisition: Enhanced Buildings & Infrastructure solutions through BIM integration and digital enablement.
- Acquired: October 7, 2024
- ArcVera Renewables Acquisition: Expanded capabilities in renewables sector, primarily in North America.
- Acquired: September 4, 2024
New Products Launched
No information is available.
New Features Added to Existing Products
No information is available.
New Partnerships
The company has formed new collaborations through acquisitions such as with IDP Group to strengthen its position in Buildings & Infrastructure and ArcVera Renewables to bolster expertise in renewable energy.
Conclusion
Bureau Veritas continues to maintain its leading industry position by refining its strategic focus, expanding its service offerings through key acquisitions, and optimizing its portfolio to ensure leadership and top performance in the quality, safety, and sustainability sectors by 2028 as part of its LEAP | 28 strategy. The recent divestment of the Food testing business aligns with its refocused strategy, showcasing adaptability and forward-thinking in a competitive market landscape.
