Bureau Veritas enters the mandatory technical construction supervision market in rapidly urbanizing Southwest China
Neuilly-sur-Seine, France, March 03, 2016 – Bureau Veritas is pleased to announce it has finalized the acquisition of a 80% equity stake in Chongqing Liansheng Construction Project Management Co., Ltd. (“Chongqing Liansheng”).
Founded in 1994, Chongqing Liansheng possesses required licenses granted by the Chinese authorities to provide mandatory construction project supervision. The company focuses on building and infrastructure construction, from public transportation and utilities projects to high-end real estate, and industrial projects. Based in Chongqing, a fast-growing municipality of 33 million people in Southwest China, the company is a regional leader with more than 900 employees. Its revenue for 2015 was around EUR 30 million.
"We are further consolidating our operational platform in China, a priority country for the Group, following several successful operations conducted last year. This acquisition fits perfectly with our mid- to long-term strategy to both expand our regional presence and become a key player in the Chinese domestic market. It strengthens our global leadership in construction", said Didier Michaud-Daniel, CEO of Bureau Veritas.
"We are pleased to join forces with Bureau Veritas to offer our clients an extended range of quality services for large urbanization projects. This strategic alliance will enable us to benefit from the large domestic footprint of Bureau Veritas in building and infrastructure and expand our reach beyond the west and central regions" added Kaigui LEI, President of Chongqing Liansheng.