On November 16, Air Water acquired all the business asset of Cryogenic Vessel Alternative (CVA, located in Baytown, Texas), US manufacturer of cryogenic transport equipment.

CVA, established in 1999, manufactures and sells railway transport equipment as well as trailers for liquefied gases including mainly air separation gases. Having a production center near its head office in Texas, CVA is a top-ranked manufacturer supplying its products all over the US, enjoying a market share of 25% of liquid gas trailers and 30% of the railway transport equipment. The sales in 2017 amounted to about US$17 million.

Air Water has so far made efforts to develop an engineering system abroad as seen in the affiliation of Taylor Warton Malaysia (cryogenic vessel maker) in February 2016 and TOMCO (CO2 equipment maker) in February of this year. The acquisition of CVA is intended to expand and improve the product lineup and business area for further enhancement of activity.

In pursuit of this M&A, AWI formed a new company Taylor Warton America to be associated into AWI America. The CVA business was shifted to there so that the field of cryogenic equipment can be unified into the Taylor Warton brand. With the addition of CVA, AWI’s business scale in the US will be somewhere around ¥5 billion.