TÜV Rheinland acquires Korean specialist service provider for nuclear technology
21.12.2011Seoul / Cologne
In Korea, TÜV Rheinland has acquired L4S Engineering, a nuclear engineering service provider. The company is located in Daejeon, has 14 employees and is specialized in radioactive waste management, radiation protection, environmental impact analysis, safety analysis – serving customers all over the world. With this acquisition, TÜV Rheinland is able to deliver comprehensive nuclear services to all locations around the world. Great synergy effects can be expected with our core competence centre in Germany in order to expand our business worldwide. “With the integration of L4S Engineering, we are significantly expanding our scope of services in the nuclear industry and are able to increase the number of nuclear experts within TÜV Rheinland”, stated Dr Manfred Bayerlein, Chief Executive Officer of TÜV Rheinland AG.
The acquisition contract was signed by Stefan Heuer, CEO & Representative Director of TÜV Rheinland Korea, as well as Lee JaeMin, CEO of L4S Engineering. With this transaction, TÜV Rheinland will completely take over L4S Engineering’s operations. "As part of the global network of TÜV Rheinland, we can enter new markets. For all of us at TÜV Rheinland, this opens up completely new prospects for our employees to experience not only Korean projects but also international projects, which we could never had experienced before", says Lee JaeMin, CEO of L4S Engineering.
TÜV Rheinland has been represented in Korea with its own company since 1987. Almost 100 employees work for the independent testing service provider at the locations of Seoul, Daegu and Changwon in Korea. The most important services include testing of wireless telecommunication products, photovoltaics, electrical household appliances and entertainment electronics as well as the homologation of vehicles.