TUV SUD

TUV SUD Overview

Company Headquarters: Germany

Founded: 1866

Workforce: ~26,000

Company Working: TUV SUD is a global testing, inspection & certification provider company. TUV SUD divided its operations into three segments including industry, mobility, and certification. Further, it offers auditing & system certification, testing services, product certification, inspection, technical advisory, global market access, training, risk management services for chemical & process, manufacturing, retail, consumer goods, energy, mobility & automotive, infrastructure & rail industries globally. TUV SUD provided more than 605,000 certificates to approximately 1,000 locations worldwide.

Strategy

TUV SUD focuses on investing organically and through acquisitions in order to capitalize on long-term strategic drivers and expand the business. The company invested considerably in the business in 2022, and invested around USD 24.4 million in research and development of innovative services and processes.

Company Snapshot

$3.05M

Revenue

26,000

Employees

1866

Founded

Germany

Headquarters

SWOT Analysis

Strengths

Significant geographical presence
Strong Market Position
Significant services and solution offering

Weaknesses

Major ups and downs in the financial performance of the company in recent years

Opportunities

Growing automation in mining and oil & gas industry

Threats

Intense Competition

Key Developments

Date	Approach	Development
January 2023	Partnership	TÜV SÜD, entered into a partnership with wind energy business Ventus Group to provide services to wind energy enterprises in India. As part of the arrangement, the firms provides energy companies in India with solutions for measuring, assessing, and optimising wind farms and wind turbine performance.
January 2023	Partnership	Tata Consultancy Services (TCS) partnered with TÜV SÜD PSB, a subsidiary of TÜV SÜD Group, to help companies in Asia Pacific with their carbon management and elimination journeys, and to enable more organisations to achieve their net zero objectives and broader environmental agenda through the TCS Zero Carbon Platform.
December 2022	Acquisition	TÜV SÜD America Inc. acquired Ruby Canyon Environmental, Inc. and Ruby Canyon México S.A. de C.V., two independent Greenhouse Gas (GHG) accounting, reporting, and auditing firms based in Mexico. This acquisition helps TÜV SÜD expand its sustainability services through its Climate Action Certification (CAC) division and its Green Energy & Sustainability strategy.
November 2022	Agreement	TUV SUD and Oracle Energy signed an agreement for reviewing of Orale Energy’s 400MW capacity green hydrogen plant having annual capacity of 55,000 tonnes to certify green credentials to the plant by TUV SUD
February 2022	Collaboration	TÜV SÜD and Tractebel DOC have announced plans to develop and intensify their cooperative offshore wind energy efforts. The collaboration supports the United Nations' Sustainable Development Goals (SDGs), particularly SDG 17 - cross-sector and cross-border collaboration. This collaboration develops develop further new services, like marine warranty surveys, and to act as a single source for comprehensive life-cycle service packages for offshore turbines and wind farms.

Product Offering

TUV SUD
- Renewable Energy Data & Services Market

Financial Performance

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