Middle East Industrial Gases major, Gulf Cryo is accelerating its arm after the new acquisition in Jordan. Recently company bought International Industrial & Medical Liquid Gas Company based at Jordan to enhance the presence over entire region. Gulf Cryo has boosted the fantastic growth rate in the market of Industrial & medical gases since 2007.
Considering the last year major events at Middle East, region had experienced key acquisitions cum mergers since Gas majors like Air Liquide, Air Products; Linde & Praxair have already started growing reach over extreme markets of Arabs. Once upon a time, Independent Producers were the leader of the market, today rising momentum in the market has been aggressively changing the overall scenario.
Gulf Cryo CEO to Press
Chief executive Mr Naji Skaf said: “Our presence in Jordan traditionally specialised in bulk gases however in 2006 we acquired Jordan Gases Co. and established our presence on the packaged gases market. Now, we have reinforced our packaged gases position further with this latest acquisition. With continued investment in the country, we look forward to increased margins utilising our existing and acquired resources.” (Courtesy: AMEINFO)
Gulf Cryo, the company located in the center of Sahab Industrial City, the 5000 sqm site is new proposed site of the group’s second plant in Jordan. Initially company has started expanding business primarily with production of Nitrous Oxide & medical oxygen, but Today Company moved ahead with new acquisition in the diversified segments of Industrial & medical sector. This will be purely supporting the company to improve its portfolio in the industrial gases segment.
Growing Pattern of Middle East Market: Courtesy GasWorld 2011 Dubai Conference (Figures)
- Middle East region CAGR during 2000-10 – 11.5% ~ Reflects massive growth rate in last 10 yrs
- Forecasted 9.0% CAGR till 2015 ~ Cumulatively trends would remain same for next 5 years
- Improving distributing network across the region will also help in reaching max customers
- Market would continue to grow with vibrancy & optimistic
- Helium & LNG are the most emerging gases business in the region
News Courtesy: AMEINFO.com, Image Source: Gulf Cryo Website
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