MAN Diesel & Turbo Buys LNG Bunker Business

MAN Diesel & Turbo Sverige AB Thursday announced it will acquire the marine fuel gas supply system (FGSS) business of Cryo AB.

This deal includes Cryo’s operations in the manufacture of cryogenic equipment for the storage, distribution, and handling of liquefied gases

MAN Diesel & Turbo CEO Dr. Uwe Laubernoted that the acquisition is intended to bolster the company’s capabilities in the use of natural gas as a marine fuel.

“Natural gas is rapidly gaining importance as a fuel for marine applications, which is why this acquisition is of major strategic relevance for us,” said Lauber.

He also said that the acquisition would help MAN Diesel & Turbo shape the company’s profile in dual-fuel and gas propulsion.

Dr. Lauber added that access to Cryo’s supply system technology would create a “one-stop solution for comprehensive engine and fuel gas supply systems” for MAN Diesel & Turbo’s customers.

The Cryo business will be integrated into MAN Diesel & Turbo’s four-stroke marine business.

The acquisition is expected to close in February 2016.

MAN Diesel & Turbo has recently been pushing to introduce fuel-saving technology such as the Alpha Kappel FP propeller, which saw its first commercial applications in the Elsabeth C this past September.

https://shipandbunker.com/news/emea/428079-man-diesel-turbo-buys-lng-bunker-business