Element Acquires DNV GL’s German Testing Laboratories
LONDON — Element Materials Technology entered into a binding agreement with DNV GL to purchase the DNV GL Material Testing (MT) Laboratories in Germany. As a result of this agreement, Element will acquire four laboratories located across Germany, further strengthening its position as the recognized market leader in materials testing and product qualification testing services operating in the aerospace, oil and gas, and transportation and industrials sectors.
This transaction significantly expands Element’s current European laboratory footprint of 16 laboratories, adding to the company’s existing German laboratories located in Herne and Berlin and takes the group’s revenues over $300 million and number of employees to 2000.