When Worthington Industries announced that its Pressure Cylinders segment had acquired a 75% stake in Turkey’s ARITAS in February 2014, it immediately enriched the company’s position in the rapidly growing LNG business.
Located in Istanbul, ARITAS is one of Europe’s leading LNG and cryogenic technology companies, and for almost a decade has been building and servicing the virtual LNG pipeline in Turkey via LNG transport trailers, LNG ISO containers, LNG bulk tanks and LNG satellite stations for re-gasification. ARITAS is also an emerging global leader in LNG fuelling systems, including those for natural gas powered marine vessels.
For Worthington, which has decades of history in industrial gas markets and more recently in alternative fuels technology, the acquisition is a perfect match. The company is itself pursuing expansion in energy products and Sean Murray, General Manager of Cryogenics for Worthington Industries, exclusively told gasworld, “ARITAS’ LNG and cryogenics capabilities dramatically increase our ability to grow our LNG and cryogenics businesses globally. The technology, LNG product line-up and experience building mobile pipeline solutions fit our strategy to expand in energy products, as well as high horsepower transportation.”
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