Iwatani Corporation of America, a wholly owned subsidiary of Iwatani Corporation (8088: Tokyo Stock Exchange) today announced that it has acquired Aspen Air U.S., LLC based in Billings, Montana. Financial terms of the transaction were not disclosed.
Aspen Air is a leading manufacturer and distributor of bulk liquid industrial gases in Montana and the surrounding States. Aspen Air supports a diverse industrial and medical base of customers including those in the energy and chemicals sectors, hospitals, and the very important packaged gases and independent distributor network.
“Aspen Air is recognized for its commitment to safety and reliable supply to its customers. This acquisition marks Iwatani’s entrance into the U.S. Industrial Gases sector and reflects its focus on supporting customers in underserved markets” said Joseph S. Cappello, CEO of Iwatani Corporation of America.
Tom Harrison, Iwatani Corporation of America’s Vice President of Industrial Gases, will have expanded responsibilities and lead the Aspen Air Team. “Tom brings a wealth of experience to the role. He has been leading Iwatani Corporation of America’s Specialty Gases business and Hydrogen Sourcing activities for the past 2 years and prior to that spent 32 years with Linde (formally Praxair) in Sales, Logistics and Product Management,” said Cappello.
Iwatani Corporation of America has operated in the United States for more than 40 years. While remaining committed to its traditional portfolio of products and services in North America, the company has broadened its business platform over the past few years to include four new business segments: Hydrogen, Helium, Specialty Gases and now Industrial Gases.