Air Water Inc. has acquired the assets of Cryogenic Vessels Alternative (CVA) USA.
Through its US subsidiary, Air Water America Inc., the company has acquired the assets, commercial contracts and trade liabilities of Cryogenic Vessels Alternative (CVA) USA, including the Houston based CVA assets from INOX India.
Taylor-Wharton America Inc. shall soon brand the products made at old CVA facilities with its own brand.
CVA, a Texas-based company, is a leading worldwide manufacturer of cryogenic industrial gas products and oilfield well stimulation equipment.
Just under 10 years ago INOX India, India’s largest cryogenic engineering company, acquired CVA which created the brand INOXCVA, offering cryogenic storage, transportation and distribution products for the global market, and expanded its operations in South America and Europe as INOXCVA.
INOXCVA differentiated itself from other companies with technological advancement, marketing mix and product positioning, the company explained.
Savir Julka, Global Head - Marketing at INOXCVA, told gasworld, “INOXCVA has implemented plans to be lean and focused, by divesting their manufacturing activities in the US. We shall focus on core competence and enhance our range of high-quality engineered products for IG, LNG and the Cryo Scientific industry.”
“INOXCVA shall continue sale of equipment directly to the customers in North America, and other global markets,” Julka stated.
The purchase of CVA assets by Air Water will give Taylor-Wharton a significant manufacture presence in the Houston area, according to Taylor-Wharton’s Chairman and CEO Eric Rottier.
“CVA adds product lines to Taylor-Wharton including cryogenic rail cars, trailers, liquid hydrogen tanks, LNG systems, offshore containers, ISO containers, microbulk delivery, and oil well service equipment,” said Rottier.
Tim Miller, a well-known figure in the gas industry, has been promoted to President of Taylor-Wharton taking on the responsibility for both CVA assets and Taylor-Wharton’s business.
The Japanese company Air Water Inc. was established in 1929 based on industrial and medical gas but has since expanded the company to the likes of agriculture, food products and medical treatment.
“We plan to invest in the company to support our growth and initiatives. In regard to the asset purchase,” Rottier stated.