Iwatani Corporation of America, an Iwatani Corporation subsidiary, has entered the wider US industrial gases market for the first time, with the acquisition of Montana-based Aspen Air US.
A manufacturer and distributor of bulk liquid industrial gases, Aspen Air supports industrial and medical customers, alongside a packaged gases and independent distributor network.
Joseph Cappello, CEO of Iwatani Corporation of America, said the purchase marks Iwatani’s entrance in all of the US industrial gases sector and reflects its focus on supporting customers in underserved markets.
Tom Harrison, Iwatani Corporation of America’s Vice-President of Industrial Gases, will have expanded responsibilities and lead the Aspen Air Team.
Cappello said, “Tom brings a wealth of experience to the role. He has been leading Iwatani Corporation of America’s specialty gases business and hydrogen sourcing activities for the past two years and prior to that spent 32 years with Linde (formally Praxair) in sales, logistics and product management.”
Iwatani Corporation of America has operated in the US for more than 40 years and remains committed to its existing portfolio of products and services. The company has broadened its business platform over the past few years to include four new business segments: hydrogen, helium, specialty gases and now industrial gases.
Terms of the deal were not disclosed.
Iwatani Corporation is Japan’s largest supplier of liquid petroleum gas and hydrogen and is a leading manufacturer and distributor of industrial gases, helium and electronic and specialty gases throughout Japan, China and Southeast Asia.
Leveraging its parent company’s expertise, Iwatani Corporation of America has embarked on an ambitious growth programme to expand in key Industrial and specialty gases markets and to establish a vertically integrated hydrogen business in the US. Iwatani Corporation of America owns and operates a growing network of Iwatani-branded hydrogen refuelling stations in California.