MAN acquires FGSS from Cryo AB

MAN Diesel & Turbo Sverige AB, which is a wholly owned subsidiary of MAN Diesel & Turbo SE, has announced that it has acquired the marine fuel gas supply system (FGSS) business from Cryo AB. Cryo AB is Sweden-based part of the Linde Engineering Division and is also a manufacturer of cryogenic equipment for storing, distributing and handling LNG. The FGSS business will be incorporated into the MAN Diesel & Turbo Sverige’s four-stroke marine business.

Dr. Uwe Lauber, the CEO of MAN Diesel and Turbo SE, said: “Natural gas is rapidly gaining importance as a fuel for marine applications, which is why this acquisition is of major strategic relevance for us.

“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.”

The Managing Director at Linde Engineering, Jürgen Nowicki, said: “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.”

The scheduled date for the transaction to be closed is February 2016.

Edited from press release by David Rowlands

Read the article online at: https://www.lngindustry.com/lng-shipping/19112015/man-acquires-fgss-from-cryo-ab-1652/