Nikkiso Cryogenic Industries Group announces consolidation
Published by Callum O'Reilly,
Cryogenic Industries Inc. and Nikkiso Cryo Inc., subsidiaries of Nikkiso Co. Ltd (Japan), have announced their functional consolidation as ‘Nikkiso Cryogenic Industries Group’.
Consisting of Nikkiso Cryo Inc. and Cryogenic Industries Inc. and its subsidiaries, ACD LLC, Cosmodyne LLC, and Cryoquip LLC, the group will provide innovative equipment and solutions in liquid gases and beyond.
The group’s creation involves the strengthening and development of five functional units of the companies. The Cryogenic Pumps unit aligns ACD’s and Nikkiso Cryo’s lines of pumps. The Cryogenic Process Systems unit incorporates turboexpanders along with LNG and air separation plants. The Heat Exchanger Systems unit focuses on cryogenic vaporisers, LNG and industrial gas equipment. The Cryogenic Services unit provides service and support through a broad network of global facilities. A newly created Integrated Cryogenic Solutions unit will allow for centralised management of product and project development across channels and in multiple market segments.
Through joint research and innovation, the group will provide increased engineering and systems solutions for market development.
“One key benefit of our new business approach is the capacity to expand our offerings and provide a comprehensive product line for clean energy such as LNG and hydrogen, in addition to our existing line of products for industrial gases. We’re calling this segment our ‘One Clean Energy Group,’” said Peter Wagner, President and CEO of Cryogenic Industries. “We are looking forward to working together with Nikkiso Cryo as Nikkiso Cryogenic Industries Group, with our shared experience, resources and commitment to quality. This will allow us to focus more closely on our customers’ needs, providing individual support, service and solutions.”
The functional consolidation will provide the opportunity for a more expansive look at the customer’s product experience and extend the group’s global reach across increased markets. The full integration will take place over the next several months.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/05032019/nikkiso-cryogenic-industries-group-announces-consolidation/
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