Gulf Cryo has acquired Deniz Gaz, a leading industrial gas company in Turkey with production plants in four locations across the southwest of the country.
Primarily producing nitrous oxide and acetylene from its four filling stations, Deniz Gaz also delivers bulk liquid oxygen and nitrogen to its customers and fills oxygen, nitrogen, argon and CO₂ cylinders. This established network supplies a large and diverse client base such as hospitals, shipyards, welding shops and steel and metal manufacturers.
On entering another new country, Naji Skaf, CEO at Gulf Cryo says, “Turkey is one of the largest, if not the largest, industrial gas market in the Middle East. It has had a stable economy for the past five years, has a strong industrial base, a large well educated population and the industrial gases market is demonstrating double digit growth year-on-year.”
“This solid growth in the midst of a global downturn is very attractive for IG companies looking for investment opportunities.”
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