Danish gas pump specialist Svanehoj has launched a new French LNG and LPG solutions company after it received approval for its acquisition of Wartsila’s tank control systems business.
In September last year, Svanehoj said it had purchased Wartsila TCS for an undisclosed sum.
Now, the firm received approval from the French government for the acquisition.
As a result, Svanehoj is establishing a new independent business for production, sales and service of land-based LNG tank gauging systems and hydraulic LPG safety valve systems, it said in a statement on Monday.
The new company, Svanehoj France, will have almost 40 employees in Calais, France where TCS currently has a production facility.
Svanehoj named Morten Christian Larsen as the head of the new company. He is already director of service and aftersales at Svanehoj and will manage the two businesses in parallel.
The Danish company plans to invest in the product line at the Calais factory, which offers turnkey tank gauging solutions, as it expects “significantly” increased demand for liquefied gas.
Also, the firm sees “great” potential in using the acquisition as an opportunity to offer pumping solutions for onshore LNG terminals.