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Bureau Veritas acquires France's HydrOcean

Bureau Veritas acquires France's HydrOcean
Bureau Veritas has finalised the acquisition of HydrOcean, a French engineering company specialised in hydrodynamic digital simulation for the maritime industry, the classification society said.

Established in 2007 and based in Nantes, France, HydrOcean provides design support for the construction of ships, offshore structures, racing yachts and marine energy systems. Its focus is on assessing and optimising hydrodynamic performance. It reported revenue of EUR2.7m in 2014. The company has co-developed advanced digital simulation tools in partnership with the French Ecole Centrale Nantes’ fluid dynamics laboratory. 

HydrOcean’s services and simulation tools help reduce the risks, time and costs associated with ship design. It operates in a fast growing market driven by sustained demand from the shipping, offshore and yachting industries, and the emerging marine renewable energy sector.

“The acquisition of HydrOcean enables Bureau Veritas to integrate an outstanding team of experts and highly innovative entrepreneurs,” said Bureau Veritas ceo Didier Michaud-Daniel. “The group is increasingly developing solutions combining its core testing, inspection and certification services with new technologies. HydrOcean fits perfectly into this strategy thanks to its simulation tools and its technical expertise. Its services will complement those offered by the Marine & Offshore business, especially in reducing ship fuel consumption,” added Michaud-Daniel.