Nikkiso Cryogenic Industries Group Announces its Consolidation
Cryogenic Industries, Inc. (and its subsidiaries, ACD, Cosmodyne and Cryoquip) announce their functional
consolidation with Nikkiso Cryo, Inc., to be known as “Nikkiso Cryogenic Industries Group” (the Group).
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 turbo expanders along with LNG and Air Separation plants. The Heat Exchanger Systems unit focuses on cryogenic vaporizers, 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 centralized 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.
Nikkiso has acquired Cryogenic Industries
In August 2017, Nikkiso Co., Ltd. acquired Cryogenic Industries, and all of its operations, including ACD, Cosmodyne and Cryoquip.
Nikkiso is a global leader in advanced technologies for Industrial, Clean Energy, Aerospace and Medical markets. Their industrial product line includes cryogenic pumps and pump systems and this acquisition brings a natural synergy of both companies’ products and objectives.
For more details on the acquisition or Nikkiso and its products, click below:
Cryoquip's mission for the future is to use it's experience and innovation not only to maintain our position as the world's leading supplier of cryogenic heat exchange systems for the industrial gas business, but also to provide equipment in the LNG, Petrochemical and oil and gas well service industries in response to the world's increasing demand or clean, green energy sources, and to ensure our ability to meet the needs of those industries from strategically located facilities around the world.