DNV eyes RMB 1 bln China sales in 2008

Det Norske Veritas(DNV), Norway-based global provider of services for managing risk, expected to boost its sales in China this year to RMB 1 billion (US$143 million), up 40% from last year's RMB 711 million, said the company's top official.

Currently, Chinese market accounts for more than 10% of DNV's global revenue. Its overall growth in China reached 45%, which is considerably higher than the company's worldwide growth rate of 15% to 16%, according to the DNV's CEO Henrik Madsen. The company ascribed the strong sales growth to China's rapid economic growth.

The company clinched 280 shipbuilding projects with overall deadweight of 23.4 million tons in China last year, representing more than 20% market share on Chinese market and more than 50% of DNV's global new orders, according to sources.

In addition, DNV is also involved itself in offshore oil and gas drilling, industrial certification and information technology in the country with efforts to strengthen its influence on the other growing markets of accreditation.