Japan Air Gases and Iwatani International Corporation are to merge their cryogenic equipment manufacturing activities in a move to reinforce both companies’ competitiveness and growth.
Japan Air Gases, a JV between Air Liquide and BOC which was established in January 2003, will control 60 per cent of the new company. Iwatani International Corporation, established in 1930, will control 40 per cent.
The new company will be based on the site of A-TEC, currently the production facility of JAG for cryogenic equipment manufacturing. It will have around 70 employees and expects sales of 4.5 billion yen next year.
Speaking about the merger, Guy Salzgeber, President and CEO of JAG said: \\$quot;This partnership between JAG and Iwatani for cryogenic equipment manufacturing will enable us to provide state-of the-art cryogenic equipments and services to our respective customers.
\\$quot;We also regard this as a very important step towards reinforcing the long term alliance between our two companies for the efficient utilization of industrial resources in Japan.\\$quot;
The companies say the move will enable them to put even more value into all the products and services and will continue to provide top quality attention to all their customers.
For further information:
Japan Air Gases
Iwatani International Corporation