2010 Activity Report - Bureau Veritas

Interview with the Chairman and Chief Executive Officerassets in operation, mitigating environmentalrisks and protecting personnel. To staycompetitive, they require rapid deliveryof licenses to operate and product quality andsafety certifications enabling reduced timeto-market.At the same time, in the faceof economic constraints, they are watching thebottom line and seeking solutions at lower cost.How is Bureau Veritaspositioned to meet thesegrowing demands?F. P.: The Group is now a powerfulindustry player, supported bya strong global network and nearly50,000 skilled employees. We have upgradedand streamlined our operating model andstepped up investments in IT services to ensurefaster service delivery, greater productivity andcost reduction.Our teams have demonstrated a high degreeof creativity and innovation in adaptingto a changing environment. The key to oursuccess lies in our ability to meet the diverseand complex expectations of all our customers.When they choose Bureau Veritas, they knowthey are partnering with a group that hasexpertise, a worldwide presence and resourcesthey will not find anywhere else.“Our servicesare increasinglyrecognizedin the value chainof our clients.”One of the highlights for Bureau Veritasin 2010 was the acquisition of Inspectorate.What is its significance for the Group?F. P.: The acquisition of Inspectorate was botha unique opportunity and a strategic move.With a staff of 7,300 employees and150 laboratories worldwide, Inspectorate haspositioned Bureau Veritasamong the top three globalleaders in a rapidly developingmarket.It has opened up the entire valuechain of commodities to theGroup, allowing usto penetrate the oil andpetrochemicals segment.It has also extended our upstream positionin mineral exploration and production-relatedservices to downstream services, particularlyin international transport and trade whereInspectorate is in the forefront. It now forms thebackbone of our new Commodities business,the second largest in the Group. With pro-formarevenue of €488 million in 2010, this newbusiness combines all Inspectorate activities,accounting for two thirds of revenue, with ourexisting activities in mines and minerals and oilinspection services.Thanks to the addition of this field of activities,we now offer our clients the widest range“Half the Group’s revenuesare now generated in fast-growing economiesand commodities-producing regions,and the proportion will continue to rise.”8