Ricardo has completed the acquisition of Lloyd’s Register's Rail activities.

RICARDO: On March 1 engineering and consulting company Ricardo plc announced that it had completed the acquisition of Lloyd’s Register Rail, following Chinese government approval for the transfer of a small joint venture owned by Lloyd’s Register Group and China Classification Society.

Ricardo had announced an agreement to acquire the rail activities of Lloyd’s Register Group for £42·5m on April 17 2015.

‘The Ricardo Rail business is performing well across its existing international footprint, and with the addition of the Chinese joint venture we are now well placed to maximise our position in this fast-growing and increasingly important rail market’, said Ricardo plc CEO Dave Shemmans.