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TÜV SÜD reports sixth consecutive year of growth in 2008

Munich. 850 new jobs and a 7 per cent rise in sales revenues to approximately EUR 1.36 billion. This is the preliminary result of the international service corporation TÜV SÜD for fiscal 2008. ”Our corporate group has thus continued to grow profitably for the sixth year in succession”, notes Chairman of the Board of Management Axel Stepken.

Despite the turmoil on the international financial markets and its negative implications for the investment behaviour of consumers and companies, TÜV SÜD continues to pursue its ambitious goal of increasing corporate sales revenues by almost EUR one billion to approximately EUR 2.3 billion by 2013. In the fiscal year now ending, development of TÜV SÜD business has been particularly encouraging in the Americas and Asia regions. While sales revenues in the Americas rose by 16 per cent to roughly EUR 85 million, TÜV SÜD Group recorded a 12 per cent plus in sales revenues to EUR 145 million in Asia. Overall, sales revenues abroad now account for 30 % of sales revenues of TÜV SÜD – and rising. In spite of the liberalization of the market for installations falling under regulatory supervision and inspection, TÜV SÜD Group has also continued to grow in Germany where sales revenues have increased by four per cent to EUR 1.005 billion. At year-end, TÜV SÜD will employ nearly 14,000 staff. According to Chairman of the Board of Management Stepken, TÜV SÜD and TÜV Rheinland continue to pursue their goal of a merger between the two companies.

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