KUALA LUMPUR, Jan 9 (Bernama) -- Nikkiso Cryogenic Industries’ Clean Energy and Industrial Gases Group, a part of Nikkiso Co Ltd (Japan) group of companies, has entered into an agreement to acquire Cryotec Anlagenbau GmbH, for an undisclosed amount.
In a statement, Cryogenic Industries chief executive officer and president of the group, Peter Wagner said: “We look forward to bringing Cryotec into our Nikkiso family. This acquisition exemplifies our passion to provide efficient, performance-based products and service.”
Meanwhile, its Europe vice president, Ole Jensen said the acquisition would allow the group to expand its footprint in Europe, and broaden its expertise in carbon capture and biogas technologies.
A global plant engineering and construction company, Cryotec provides planning, project management, manufacturing and engineering services of skid-mounted or containerised air separation and liquefaction plants, and carbon dioxide (CO2) technologies offering tailored solutions to its customers.
The acquisition is expected to close during the first quarter of 2023 and Cryotec will operate as part of the group’s GmbH facility, based in Neuenburg am Rhine, Germany.
The group consists of six functional business units namely Cryogenic Pumps, Heat Exchanger Systems, Process Systems, Fueling & Solutions, Energy Infrastructure & Strategic Projects and Service.
-- BERNAMA
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