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MAN Diesel & Turbo Acquires Cryo’s Marine Fuel & Bunkering Business - Fuel gas supply specialist further enhances MAN Group’s system scope offering in marine LNG propulsion - Cryo.se / MANDieselTurbo.com
MAN Diesel & Turbo Acquires Cryo’s Marine Fuel & Bunkering Business

 

PRZOOM - /newswire/ - Göteborg, Sweden, 2015/11/19 - Fuel gas supply specialist further enhances MAN Group’s system scope offering in marine LNG propulsion - Cryo.se / MANDieselTurbo.com.

   
 
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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 (cryo.se), 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

 
 
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MAN Diesel & Turbo Acquires Cryo’s Marine Fuel & Bunkering Business

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MAN Diesel & Turbo | Cryo AB
Contact: Dr. Jan Dietrich Müller - MAN Diesel & Turbo 
+49 821 322 3578 jan.mueller[.]man.eu
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any MAN Group securities in any jurisdiction including any other companies listed or named in this release.

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