By Rhea Healy2016-02-17T17:07:00+00:00
Air Water Inc., an industrial gas company based in Japan, has acquired all the shares of Taylor-Wharton Malaysia Sdn. Bhd., a cryogenic equipment manufacturer based near Kuala Lumpur.
The understanding is that the North Pacific rim company will make Taylor-Wharton Malaysia a subsidiary through this attainment of shares. Air Water will seek to obtain a high quality manufacturing facility and therefore expand its sales capability, in the global industrial gas business, through this merger.
The company is hoping to boost its sales profile in the Asia, Europe and Americas regions, by utilising its newly gained manufacturing knowledge and established sales network via Taylor-Wharton Malaysia.
Specifically, Air Water aims to establish businesses for equipment involved in the currently expanding liquefied natural gas (LNG) supply chains for Southeast Asia and North America, through the fusion of Air Water’s cryogenic technology with Taylor-Wharton Malaysia’s manufacturing technology.
Taylor-Wharton Malaysia, an indirect subsidiary of Taylor-Wharton International LLC based in the US, is primarily engaged in manufacturing cryogenic liquefied gas bulk storage tanks, micro-bulk containers and portable liquid cylinders.
In October 2015, Taylor-Wharton International filed a petition for Chapter 11 bankruptcy.
As the company seeks to safeguard against any future ‘risk of a downturn’ and take advantage of a changing energy sector, Air Water has announced the planned expansion of its energy business.
Worthington Industries, Inc. has announced that its Cryogenics business in the Pressure Cylinders segment is to purchase the assets of the global CryoScience business of Taylor-Wharton, including a manufacturing facility in Theodore, Alabama.
Following February’s news that that Air Water had acquired 100% of the shares of Taylor-Wharton Malaysia SBN BHD, further details of the takeover have now been revealed, including a distribution agreement with Eleet Cryogenics.
Month on month, the gasworld website is the market-leading news portal for the global industrial gas sector, growing at an unprecedented rate and keeping its readers at the forefront of breaking news, insightful analysis and must-see features across the industry. Launched in 2004 and continually evolving, it is the only independent online news, views and intelligence portal for the global industrial gas community and the larger end-user markets – and home to the ever-increasing range of gasworld platforms.
To find out more about gasworld's advertising opportunities click here.