SINGAPORE--27 Mar--Xinhua-PRNewswire-AsiaNet/InfoQuest TUV SUD will Invest a Further S$70 Million Over Next Six Years and Build Singapore into Regional Competency and Testing Centre Leading technical services provider TUV SUD today announced that it is acquiring PSB Corporation (PSB Corp) and PSB Certification (PSB Cert) as part of its expansion in Asia Pacific. TUV SUD and PSB will combine strengths to create a new entity based in Singapore that will offer a complete range of testing, certification, consulting and education services across Asia, and theworld. The deal will be formally inked at a signing ceremony between TUV SUD ASIA-PACIFIC and SPRING Singapore (the Standards, Productivity and Innovation Board) this afternoon. CEO and President of TUV SUD in Asia Pacific Dr. Ruprecht Schattner said, "PSB is a superb and strategic fit for TUV SUD because we have complementary product offerings and we share many traits, including acommon public sector heritage, technical expertise, a strong client base, unswerving commitment to quality and a driving ambition to move forward. Our synergies place us well to capture the vast opportunities in Asia for testing, certification, consulting and training." "We have found a good partner in TUV SUD -- with a solid track record, strong capabilities and a global network of resources," said Mr Loh Khum Yean, Chief Executive of SPRING Singapore and Chairman of PSB Holdings. "We are confident that TUV SUD's firm commitment to grow these two businesses in Singapore and regionally will enable them to grow even faster moving forward. This collaboration will synergise the strengths of both parties." PSB Corp and PSB Cert's sale to TUV SUD is part of Singapore government's plan to divest government-owned companies in line with the "Yellow Pages Rule". On the basis of this rule, the government will divest all its non-core, non-strategic businesses which have alternative service providers in the private sector. The Ministry of Trade and Industry (MTI) and SPRING Singapore have previously stated that the two PSB businesses are ripe for divestment as they are now well-established with proven track records. TUV SUD is among the world's top three providers of technical services relating to product quality, safety testing and compliance, management system certification, training and engineering consultation. Founded almost 150 years ago, the company now has 130 offices and more than 10,000 skilled specialists around the world, realising sales of more than EUR 1 billion (approximately S$ 2 billion) in 2005. PSB Corp enables organisations to achieve higher productivity, quality and efficiency from better coordination, best-in-class training, shorter time to market, global implementation and continued support. It has core businesses in product testing, technology and academy & consulting. PSB Corp is one of the most comprehensive testing houses in Asia. It helps companies gain access toglobal markets by meeting international standards and compliance requirements. PSB Cert is Singapore's national certification body and market leader in systems certification which is an assessment of an organisation's management system(s) in compliance to standard(s). With some 20 years experience, PSB Cert has built itself up into an internationally recognized symbol of quality, assisting organisations in developing effective management systems for greatercompetitiveness. Together with PSB's established leadership in testing, certification and training, the new Group will put its complementary strengths together to build Singapore into the testing centre for Asia. Singapore will also become TUV SUD's regional competency centre and hub for South East Asia. Among its strengths, would be the combined know-how and expertise from the integrated companies. TUV SUD will be able to tap into PSB's combined talent pool of 800 employees. "At TUV SUD, we value employees and human capital as important assets. Having a large pool of qualified employees is vital and helps us to be well-poised to seize the opportunities presented by thisexciting and fast growing region," said Dr Schattner. TUV SUD has also announced that it will be investing S$70 million over the next six years to allow the Group to remain on the cutting edge of innovation after the companies come together. These funds will be used to train employees, start know-how transfer programmes, increase management skills, maintain and acquire cutting-edge equipment and ensure compatibility of systemsand processes. These funds will also be used to develop new competencies in advanced and emerging sectors such as biotechnology, gene technology, nanotechnology, hydrogen technology, micro-electronics, automation, telecommunications and pharmaceuticals. The new Group will be able to offer a greater variety of Asia-customised accreditations across a wider range of industry sectors. Customers can expect to benefit from reduced accreditation fees and stronger global key account management abilities. The new Group will also be able to cross-sell each companies' services to their respective customers -- TUV SUD's vast range of services can be customised to suit PSB's current portfolio of customers and companies in a South East Asia; while PSB's services will reach new markets in North East Asia and South Asia where TUV SUD has a strong presence. These services will alsobe marketed to TUV SUD's European and American customers. After the integration, the new Group will have presence in Singapore, China and Hong Kong, India, Indonesia, Vietnam, Japan, Korea, Malaysia, The Philippines, Qatar, Sri Lanka, Taiwan, Thailand and the UAE. On the branding of the future entity and its products, Dr Schattner said, "TUV SUD recognises the strength and value of PSB brands across Asia. We wantto ensure that the legacy of the PSB brand will continue to flourish." More information on the new entity is available at www.tuv-sud-psb.sg . About TUV SUD and TUV SUD ASIA-PACIFIC TUV SUD is a leading international service organization catering to the business segments INDUSTRY, MOBILITY and PEOPLE. With over 10,000 employees, it is represented worldwide at more than 500 locations. As partners in our customers' processes, our specialist teams ensure that technology, systems and know-how are optimized, thus strengthening our customers' globalcompetitiveness. More information is available at www.tuv-sud.com . TUV SUD's activities began in Asia in 1989. Today TUV SUD Asia-Pacific has over 1,000 employees. It has subsidiaries in China, Hong Kong, India, Japan, Korea, Malaysia, Qatar, Sri Lanka, Taiwan, Thailand, The Philippines, United Arab Emirates and Vietnam. About SPRING Singapore (Standards, Productivity and Innovation Board) At SPRING, we work to enhance the competitiveness of enterprises for a vibrant Singapore economy. Our focus is to champion enterprise formation and growth -- through our network of valued relationships and resources -- to nurture a host of dynamic and innovative Singapore enterprises. We work with our partners to nurture a pro-business environment that encourages enterprise formation and growth, and facilitate the growth of industries. We also help to enhance the productivity and innovation and capabilities of enterprises, and increase access to markets and business opportunities. Please visit www.spring.gov.sgfor more information. About PSB Corp PSB Corp is a well recognised business solutions provider that offers academic courses, corporate training, consultancy, product testing and product certification services, product and process development and improvement services, systems automation as well as product certification. With more than 20 years of experience in each of the core businesses, PSB Corp has built itsreputation on the excellent quality services provided to its customers. Moreinformation is available at www.psbcorp.com . About PSB Cert PSB Cert is Singapore's market leader in management system certification. With more than 15 years of experience, PSB Cert has gained acceptance in the local and regional markets as an experienced certification body authorised tocertify quality standards. More information is available at www.psbcert.com . Contact: Catherine Ling Fleishman-Hillard Tel: +65-6424-6364 Email: [email protected] Liz Schulten TUV SUD Asia-Pacific Holding Ltd. Tel: +852-6053-8732 Email: [email protected] Lim Phay-Ling SPRING Singapore Tel: +65-6279-3139 Email: [email protected] SOURCE TUV SUD --Distributed by AsiaNet ( www.asianetnews.net )--