China’s Bluesol has acquired the Norwegian LNG containment and fuel gas supply systems provider, Torgy LNG, marking its entry into the market.
Bluesoul has acquired Torgy’s assets, people and customer contracts and the merged business will continue to operate under the Torgy brand, Torgy LNG said in its statement on Wednesday.
“Torgy offers an exciting opportunity for Bluesoul to strengthen and expand its service offerings in not only scrubber systems but also dual-fuel solutions to our clients, as we see the expansion and growth in the LNG sector, both as a source for propulsion but also the innovation within the containment space,” said Wang Wei, CEO of Bluesoul.
He added that Torgy will play a pivotal role in Bluesoul’s pursuit of its own LNG fleet.
Commenting on the acquisition, Alexander Aguilera, CEO of Torgy, added that it provides a major growth opportunity for both our businesses.
Aguilera will continue as CEO of Torgy and all its operations, the statement reads.
The expanded business will serve the maritime sector across the world and have offices in Norway, China, Latvia and India and manage customers on all continents.