INOX India acquires majority interest in Cryogenic Vessel Alternatives (CVA), USA
Online PR News – 28-December-2009 – – INOX India Limited, India’s largest cryogenic engineering company, has acquired majority interest in Cryogenic Vessel Alternatives (CVA), the world’s largest manufacturer of cryogenic transportation equipment. Together the entity shall become the second largest company, offering cryogenic storage, transportation and distribution products for the global market.
INOX India is a leading global player with product offerings that span the entire cryogenic value chain including storage, transportation and distribution. Its market presence extends across nearly 100 countries and its wide product range is used in various industries such as Industrial Gases, LNG Distribution, CryoBio Medical and Scientific research in Space, Nuclear and Superconductivity. Cryogenic Vessel Alternatives, with revenues of approximately US $60 Million last year, has comprehensive manufacturing and repair facilities for cryogenic transportation equipment at Mont Belvieu, Texas, USA, with presence across Canada, China and Turkey.
While INOX India leads the market in stationary storage tanks, CVA is a specialist in large cryogenic transport tanks and mobile Oil/Gas Field pumping units. This complementary market leadership, know-how and product range between the two companies will strengthen their current positions around the world. Both INOX and CVA will continue to offer their customers great products and services, while enhancing their current product offerings globally. The synergies of both these companies and the reinforced depth of talent and expertise will create an unmatched technical knowledge pool and provide a strong platform for sustainable growth and ongoing success.
Chris Carr, Hector Villarreal and Dean Corbin, erstwhile owners of CVA, will continue to play leadership roles and leverage the significant geographical market and product synergies resulting from this new partnership.
Speaking at the occasion Mr. Parag P. Kulkarni, Director and CEO, INOX India said, “The completion of this acquisition by INOX India is a major step forward in our global strategy and represents an exciting future for both businesses.”
Mr. Chris Carr, CEO of CVA commented that, “Together we are a balanced company, strategically well placed to compete at the leading edge of a rapidly growing cryogenic industry.”
INOX India Ltd
Established in 1992, INOX India Ltd. is part of the INOX Group which has interest in diverse businesses including Industrial Gases, Refrigerant Gases, Fluoro Chemicals, PTFE, Renewable Energy, Cryogenic Equipment and Entertainment. Over a short span, INOX India has secured its position as a global player, offering total solutions in cryogenic storage, transportation and distribution engineering across nearly 100 countries with exports accounting to almost 60%. It is also one of the five top manufacturers of disposable refrigerant gas cylinders globally. It has three ultra modern facilities in India spread over 17 acres and covered factory area of 25500 sq. mt., located at Kalol, near Vadodara, Kandla, Ghandhidham which is a port side SEZ and Silvassa.
Cryogenic Vessel Alternatives (CVA)
CVA is the world’s largest manufacturer of cryogenic transportation equipment like Transport Trailers, Truck Mount Trailers, ISO / IMO Containers and mobile Oil/Gas Field pumping units. It has comprehensive manufacturing and repair facilities for cryogenic transportation equipment and mobile Oil/Gas Field pumping units, with presence across USA, Canada, China and Turkey.
For supplementary information or a one-on-one kindly contact
Mr Parag P. Kulkarni
Director and CEO
INOX India Ltd.
Tel: +91 265 2335877