UL Solutions
Overview
UL Solutions is a global leader in applied safety science, with over a century of expertise in advancing safety standards. Headquartered in Northbrook, Illinois, the company operates across 110 countries, offering testing, inspection, certification services, and software and advisory solutions.
Key Services
UL Solutions provides comprehensive services that aid in product innovation and business expansion, featuring prominently its UL certification Marks recognized for instilling trust. The company supports businesses in product launches, navigating international markets, and managing supply chains.
Leadership
Under the leadership of President and CEO Jennifer F. Scanlon since 2019, UL Solutions focuses on technological advancement. Jennifer's experience includes leadership at USG Corporation. Executive Vice President and Chief Science and Operations Officer Gitte Schjotz, since January 2021, is pivotal in steering technical and operational strategies. Recent strategic appointments include Alberto Uggetti, Executive Vice President and Chief Commercial Officer, and Patty Crawford, Chief Information Officer in 2024, enhancing the company's leadership capabilities.
Corporate Values and Mission
Committed to creating a safer, smarter, more secure, and sustainable world, UL Solutions is guided by values of integrity, quality, and fairness. The company emphasizes diversity and inclusion to foster an empowering work environment.
Recent Developments and Strategic Initiatives
UL Solutions reported a 6.5% revenue increase in Q1 2024, reaching $670 million, with organic growth noted at 7.5%. The company's strategic positioning involves leveraging its robust leadership and service offerings to support innovation and growth across multiple industries.
Engagement with Clients and the Public
UL Solutions actively engages with its audience via platforms such as LinkedIn, Twitter, and Facebook, maintaining transparency and collaboration with its stakeholders.
Competitor Profile
Key Competitors
1. SGS Group
SGS is a global leader in testing, inspection, and certification services with approximately 99,600 employees and 2,600 offices and laboratories worldwide, emphasizing sustainability, quality, and integrity.
2. Intertek Group
Intertek provides Total Quality Assurance services, employing over 40,000 individuals across 1,000 locations worldwide, focusing on innovation and sustainability in its services.
3. Bureau Veritas
With 83,000 employees in 1,600 offices worldwide and €5.9 billion revenue in 2023, Bureau Veritas is committed to compliance with health, safety, and environmental standards to boost client performance.
4. Eurofins Scientific
Eurofins specializes in analytical testing in various sectors, with an extensive network of 900 laboratories in 62 countries, providing a broad range of testing solutions.
Strategic Positioning
UL Solutions competes in a dynamic market, with each competitor offering unique services:
- SGS: Comprehensive and sustainability-focused offerings.
- Intertek: Extensive Assurance, Testing, Inspection, and Certification (ATIC) services.
- Bureau Veritas: Emphasizes social responsibility and compliance.
- Eurofins: Focuses on scientific testing across numerous sectors.
UL Solutions ranks 9th in revenue among its top 10 competitors, with competitors averaging $3.1 billion in revenue, highlighting the need for constant adaptation and innovation to enhance its competitive stance.
