Alfa Laval (ALFVY) has finalized its acquisition of Fives Energy Cryogenics, a global leader in cryogenic heat transfer and pump technologies. This move significantly expands Alfa Laval's technological capabilities in the energy sector, particularly in LNG, hydrogen, and carbon capture applications.
With this acquisition, Alfa Laval gains access to advanced cryogenic technology critical for the liquefaction, regasification, and transportation of gases such as LNG, hydrogen, carbon dioxide, and nitrogen. These additions enhance Alfa Laval's existing offerings and align with its strategy to support the global transition to cleaner energy sources.
CEO and President Tom Erixon stated that integrating Fives Energy Cryogenics' expertise marks a major strategic milestone, enabling Alfa Laval to lead innovation in future-oriented markets and drive sustainable growth.
Fives Energy Cryogenics brings over 65 years of industry experience and operates from headquarters in France, with production facilities in France, China, and Switzerland. The company employs more than 700 people and generated roughly EUR 200 million in revenue in 2024.
The cryogenics unit will now operate under Alfa Laval's Energy Division as a newly formed business unit. Integration efforts have already begun, following receipt of all required regulatory approvals.
Tuesday, ALFVY closed at $43.57, or 1.07% higher, on the OTC Markets OTCPK.
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