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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.

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, 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.

About The Man Group

The MAN Group is one of Europe's leading commercial vehicle, engine and mechanical engineering companies, generating annual revenue of around 15.7 billion euros and employing a workforce of approx. 53,500 worldwide. MAN is a supplier of trucks, buses, diesel engines, turbomachinery and special gear units, with all corporate divisions holding leading market positions.

The strategy pursued by the MAN Group aims to create sustainable enhanced value in its fast-growing business areas of Commercial Vehicles and Power Engineering. The Industrial Governance management system, with its clear distribution of roles, centralizes strategic management activities and strengthens the operational responsibilities of the three subgroups, MAN Truck & Bus, MAN Diesel & Turbo and MAN Latin America. Each area must measure up to the best competition in its field.

The MAN Group's guiding principles create a framework for responsible conduct on the part of all MAN employees which is mandatory to uphold the principles of sustainability. Our corporate values reliable, innovative, dynamic and open play a key role in MAN's success on product markets and the capital market, as well as in attracting qualified employees, and in social acceptance of all our business activities.


Origine : Communiqué MAN Energy Solutions

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