MAN Diesel & Turbo Acquires Cryo’s Marine Fuel & Bunkering Business
Posted by Greg Trauthwein
Thursday, November 19, 2015
MAN move signals strong shift into Marine LNG Biz
MAN Diesel & Turbo Sverige AB, a wholly owned subsidiary of MAN Diesel & Turbo SE (part of MAN and Volkswagen Group), acquires the marine fuel gas supply system (FGSS) business from the Sweden based Cryo AB, part of the Linde Engineering Division and a manufacturer of cryogenic equipment for the storage, distribution and handling of liquefied gases. It will be integrated into the company’s four-stroke marine business.
“Natural gas is rapidly gaining importance as a fuel for marine applications, which is why this acquisition is of major strategic relevance for us”, says Dr. Uwe Lauber, CEO of MAN Diesel and Turbo SE. “It allows us to further shape our profile in the dual-fuel and gas propulsion segment and to gain access to market leading supply system technology. Many of our customers are looking for a one-stop solution for comprehensive engine and fuel gas supply systems. Thanks to Cryo’s expertise we can offer this solution in the future and position ourselves ahead of the competition.”
“We are happy to hand over this promising specialist segment to a market leading company like MAN Diesel & Turbo, who has the specific business volume to leverage Cryo’s full potential”, says Jürgen Nowicki, Managing Director at Linde Engineering.
The transaction is scheduled to be closed in February 2016.