Atlas Copco acquires Chinese gas gen equipment maker
US-based Atlas Copco announced on August 4 it had reached a deal to acquire Suzhou Since Gas System, a China-based maker of on-site gas generation equipment.
A private firm headquartered in China's Jiangsu province, with 70mn yuan ($10.4mn) in revenue last year and 80 employees, Suzhou manufactures on-site gas generation equipment for various industries including metals, petrochemicals, marine and electronics.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
“Suzhou Since Gas System is a well-established and reputable company,” Atlas said. “Their product portfolio, expertise and geographical coverage make them a good fit for us. This acquisition will consolidate our local presence in China, one of the world’s largest nitrogen and oxygen markets.”
Atlas did not disclose a purchase price, but said the deal should be wrapped up in the fourth quarter.