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nikkiso-expands-reach-with-acquisition-of-german-firm-cryotec
nikkiso-expands-reach-with-acquisition-of-german-firm-cryotec

Nikkiso expands reach with acquisition of German firm Cryotec

Nikkiso Cryogenic Industries’ Clean Energy and Industrial Gases Group (Group) will purchase German global plant engineering and construction company Cryotec Anlagenbau GmbH (Cryotec) for an undisclosed amount.

According to a statement released by Nikkiso, Cryotec will operate as part of the Group’s GmbH facility based in Neuenburg am Rhine, Germany.

“Our acquisition of Cryotec will allow the Group to expand our footprint in Europe, and broaden our expertise in carbon capture and biogas technologies,” said Ole Jensen, Vice President, Europe of the Group.

Cryotec specialises in the planning, project management, manufacturing and engineering services of skid-mounted/containerised air separation and liquefaction plants, and CO2 technologies.

The Group operates six functional business units including cryogenic pumps, heat exchanger systems, process systems, fuelling & solutions, energy infrastructure & strategic projects and service.

“We look forward to bringing Cryotec into our Nikkiso family. This acuiqisition exemplifies our passion to provide, efficient, performance-based products and service,” said Peter Wagner, CEO of Cryogenic Industries and President of the Group.

The acquisition is expected to close during Q1, 2023.


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