NIKKISO CLEAN ENERGY & INDUSTRIAL GASES GROUP COMPLETES CRYOTEC ACQUISITION

KUALA LUMPUR, Feb 7 (Bernama) -- Nikkiso Clean Energy and Industrial Gases Group has completed the acquisition of Cryotec Anlagenbau GmbH (Cryotec), a global plant engineering and construction company located in Wurzen, Saxony, Germany.

Cryotec provides planning, project management, manufacturing and engineering services of skid-mounted/containerised air separation and liquefaction plants, and carbon dioxide (CO2) technologies offering tailored solutions to their customers.

In a statement, the group which is a part of Nikkiso Co Ltd (Japan) and operates under Cryogenic Industries Inc (United States), said Cryotec would operate as part of its GmbH facility, based in Neuenburg am Rhein, Germany and will be acting as the Nikkiso Clean Energy and Industrial Gases Group competence and production centre in Europe.

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“Nikkiso will promote and sell globally the intelligent packaged solutions from Cryotec that reduce and recover carbon dioxide emissions, and further support the sustainability goals of the group.

“We will support the growth of Cryotec by adding resources and increasing our manufacturing and assembly activities in Saxony, and supplying Cryotec solutions to Germany and the global market,” said Cryogenic Industries Chief Executive Officer and President of the group, Peter Wagner.

Meanwhile, Prime Minister of Saxony, Michael Kretschmer said: “The acquisition of Cryotec Anlagenbau by Nikkiso strengthens the internationalisation of a traditional Saxon company from Wurzen.

“Nikkiso has global experience in renewable energy, hydrogen, and energy storage. I am delighted that Nikkiso will contribute its expertise to Saxony in the future,” he added.

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