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TASS International Announces Takeover of All Shares from TÜV Rheinland in TTAI (TÜV Rheinland TNO Automotive International)

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HELMOND, The Netherlands, October 15, 2013 /PRNewswire/ --

TASS International, leading supplier of innovative software products, state-of-the-art testing facilities and cost-effective engineering solutions for the automotive industry announces it has taken full ownership of TTAI, a joint venture between TNO and TÜV Rheinland. The take-over is in line with TASS International's growth strategy to better serve the automotive industry. TTAI will continue its activities under the new name TASS International Safety Center.

The TTAI joint venture was established in 2008 when TNO and TÜV Rheinland decided to consolidate their Crash Testing Facilities and respective businesses. Full ownership allows the company to offer the automotive industry a broader range of both simulation and real-life technology solutions.

Gijs de Rijk, Managing Director of TASS International Safety Center, comments: "The technological world is changing fast. By bringing together TASS Internationals' strong portfolio of innovative software solutions with our complementary testing services, we can generate significant benefits for our partners and clients. The TASS International Safety Center portfolio fits very well with TASS International's strategy to develop strong solutions and services at international level."

"TÜV Rheinland has guided and supported the successful development of TTAI and has brought technological and industrial know-how to this successful venture. The basis of this cooperation has always been mutual trust and the common drive for excellent technical solutions. We are convinced that this will remain the foundation of the relationship between TASS International and TÜV Rheinland in the future. The two companies will continue to work together within the framework of existing partnerships. We trust the new ownership will secure the best sustainable growth prospects for both TTAI and TÜV Rheinland", comments Prof. Dr.-Ing. Jürgen Brauckman, Chairman of the Executive Board of TÜV Kraftfahrt GmbH.

About TASS International

TASS International was established during 2012 as a merger of several independent automotive TNO affiliates. The combined business propositions of these independent companies have resulted in a complete offering of safe, green and smart mobility solutions. TASS International supports the transport industry to develop better, more sustainable and intelligent vehicles by providing innovative software products, state-of-the-art testing facilities and cost-effective engineering services and solutions. See http://www.tassinternational.com.

SOURCE TASS International



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