Nikkiso acquires Cryogenics Industries
San Diego, California based company Nikkiso has entered into an agreement to acquire the business and trademarks of Cryogenic Industries of Temecula, CA, USA and Cryogenics Industries of Basel, Switzerland.
Expected to close mid-2017, the acquisition agreement is subject to regulatory approvals.
“Cryogenic Industries’ culture of industry-leading innovation in cryogenic equipment, services and plants is highly complementary to the core fluid control technology on which our company was founded. Their suite of products and technology significantly expands our product and service offerings for our cryogenics customers globally. We look forward to welcoming the Cryogenic Industries’ management and employees into the Nikkiso family of companies,” said Toshihiko Kai, President and Chief Executive Officer.
For over fifty years Cryogenic Industries has engineered and manufactured cryogenic equipment, serving key markets in the LNG, industrial gases and energy industries. The acquisition comes as part of Nikkiso’s “focus of the future” – a drive by the company to offer advanced technology to “improve the world.”
“I am delighted by the opportunities that are ahead for our combined companies,” stated Ross Brown, Chairman and Chief Executive Officer of Cryogenic Industries. “We bring a very focused, deep expertise in cryogenic technologies that has always pursued technology innovation to solve challenges faced by our customers. We want to assure both our customer and vendor population that Cryogenic Industries will continue to operate as an independent business unit, bringing the same highly engineered solutions and extensive service to their worldwide clients as they have been known for in the past. We are happy to combine with Nikkiso and continue our joint quest to serve the cryogenic markets.”