Japanese industrial gas supplier, Air Water informed recently it will acquire all shares in Taylor-Wharton’s Malaysian unit, the manufacturer of natural gas cryogenic storage tanks.
According to the Air Water statement, through the acquisition of Talyor-Wharton Malaysia, the company intends to get involved in the currently expanding LNG supply chains for Southeast Asia and North America.
The shares acquisition will provide for the combination of Air Water’s cryogenic technology and Taylor-Wharton’s manufacturing technology, the Japanese company said.
The decision to acquire shares of Taylor-Wharton comes after the company filed for bankruptcy in October 2015, followed by businesses and assets sales.
Air Water added that after the share transfer of Taylor-Wharton Malaysia is complete, the company will be reorganized in order to continue operations.
LNG World News Staff