TEMECULA, Calif., March 04, 2019 (GLOBE NEWSWIRE) -- Cryogenic Industries, Inc. and Nikkiso Cryo, Inc., subsidiaries of Nikkiso Co., Ltd (Japan), announce their functional consolidation as "Nikkiso Cryogenic Industries Group" (the Group). Consisting of Nikkiso Cryo, Inc. (Las Vegas, NV) and Cryogenic Industries, Inc. (Temecula, CA) and its subsidiaries, ACD, LLC, Cosmodyne, LLC, and Cryoquip, LLC, the group will provide innovative equipment and solutions in liquid gases and beyond.
The Group's creation involves the strengthening and development of five functional units of the companies. The Cryogenic Pumps unit aligns ACD's and Nikkiso Cryo's lines of pumps. The Cryogenic Process Systems unit incorporates turbo expanders along with LNG and Air Separation plants. The Heat Exchanger Systems unit focuses on cryogenic vaporizers, LNG and industrial gas equipment. The Cryogenic Services unit provides service and support through a broad network of global facilities. A newly created Integrated Cryogenic Solutions unit will allow for centralized management of product and project development across channels and in multiple market segments. Through joint research and innovation, the Group will provide increased engineering and systems solutions for market development.
"One key benefit of our new business approach is the capacity to expand our offerings and provide a comprehensive product line for clean energy such as LNG and hydrogen, in addition to our existing line of products for industrial gases. We're calling this segment our ?One Clean Energy Group,'" said Peter Wagner, President and CEO of Cryogenic Industries. "We are looking forward to working together with Nikkiso Cryo as Nikkiso Cryogenic Industries Group, with our shared experience, resources and commitment to quality. This will allow us to focus more closely on our customers' needs, providing individual support, service and solutions."
The functional consolidation will provide the opportunity for a more expansive look at the customer's product experience and extend the Group's global reach across increased markets. The full integration will take place over the next several months.
ABOUT CRYOGENIC INDUSTRIES
Cryogenic Industries, Inc. (now a member of Nikkiso Co., Ltd.) member companies manufacture engineered cryogenic gas processing equipment and small-scale process plants for the liquefied natural gas (LNG), well services and industrial gas industries. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Cosmodyne and Cryoquip and a commonly-controlled group of approximately 20 operating entities.
ABOUT NIKKISO CRYO
Nikkiso Cryo, Inc. is a leading supplier of cryogenic submerged electric motor pumps used in the liquefied gas industry. NCI's innovative designs have resulted in the first application of high pressure pumps for use on regasification LNG carriers, the first and only cryogenic pumps installed on an LNG GBS, compact high flow pumps for the world's largest FPSO under construction, as well as compact, higher speed pumps used for a variety of LNG, LPG and other applications.