GL buys oil industry risk company

CLASSIFICATION society Germanischer Lloyd has bought the UK company Advantica Holding, based in Loughborough, with 660 employees worldwide from National Grid plc. Advantica concentrates on oil and gas installations and pipeline networks and is therefore an expert for risk and safety analyses,offering consulting services for installation design and the optimisation of operations.

With this acquisition, Germanischer Lloyd says it will double its turnover in the oil and gas industry and significantly strengthen its position in the UK, Middle East and US markets.