As part of an effort to strengthen its US footprint, Spanish refrigerant gas specialist Gases Research Innovation & Technology (GRIT) has acquired an interest in Summit Refrigerants.
The news was confirmed this week (15th March) with GRIT and Summit Refrigerants also unveiling plans to create a new joint venture for the refrigerant industry in the US.
In a statement, the companies said the joint venture will allow the entrance of GRIT’s technical expertise into the US market. The effort will also enhance Summit’s current processes.
GRIT and Summit Refrigerants’ immediate plans include significant enhancements to Summit’s current facilities in Houston, to provide additional services as the US.
The joint business plan is designed to more than double Summit’s 2020 volume in the short term.
Commenting on the news, Jose Luis Müller, CEO of GRIT, said, “The strong business and personal relationships developed between the two companies and their principals predicts a promising future for the collaboration in the US refrigerants market.”