Nikkiso Co. Ltd has agreed to acquire the business and trademarks of Cryogenic Industries Inc. and Cryogenic Industries AG.
The deal will include all of the company’s operations, including ACD, Cosmodyne and Cryoquip, as well as their respective subsidiaries.
The acquisition is expected to close mid-2017, subject to regulatory approvals.
Cryogenic Industries aligns with Nikkiso’s philosophy of operating each of its product companies as a distinct entity, while utilising the synergy of service capabilities and logistics across all product groups. Cryogenic Industries also adds additional service centres to Nikkiso's global service network.
Toshihiko Kai, President and Chief Executive Officer of Nikkiso Co. Ltd, said: “Cryogenic Industries’ culture of industry-leading innovation in cryogenic equipment, services and plants is highly complementary to the core fluid control technology on which our company was founded. Their suite of products and technology significantly expands our product and service offerings for our cryogenics customers globally. We look forward to welcoming the Cryogenic Industries’ management and employees into the Nikkiso family of companies.”
Ross Brown, Chairman and Chief Executive Officer of Cryogenic Industries, added: “I am delighted by the opportunities that are ahead for our combined companies […] We bring a very focused, deep expertise in cryogenic technologies that has always pursued technology innovation to solve challenges faced by our customers. We want to assure both our customer and vendor population that Cryogenic Industries will continue to operate as an independent business unit, bringing the same highly engineered solutions and extensive service to their worldwide clients as they have been known for in the past. We are happy to combine with Nikkiso and continue our joint quest to serve the cryogenic markets.”
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/25042017/nikkiso-to-acquire-cryogenic-industries/