Through the acquisition of two local companies, Gulf Cryo has firmly established its presence in Turkey, with a substantial base of operations enabling strong one-on-one customer relationships in the Middle East and Europe alike. This strength of presence is the result of a capital and acquisitions spend of more than $100 million over the last 3 years, to expand into new territories.
Gulf Cryo’s most recent acquisition, Yaliz Gaz, is a leading industrial gas company with a well-established production and distribution network in the Marmara region of Turkey. The company has three filling plants, through which it serves a significant number of packaged gas customers with oxygen, nitrogen, argon, gas mixes, specialty gases and CO2 cylinders, as well as bulk liquid gases.
Yaliz Gaz joins Gulf Cryo’s Turkey-based portfolio following the acquisition of Deniz Gaz, a leading industrial gas company in Turkey with production plants in four locations across the southwest of the country. Deniz Gaz has four filling stations, primarily producing nitrous oxide and acetylene, in addition to delivering bulk liquid argon, oxygen and nitrogen, and filling oxygen, nitrogen, argon, gas mixes and CO2 cylinders. Additionally, Deniz Gaz also offers customers engineering solutions and services.
With the addition of Yaliz Gaz and Deniz Gaz, Gulf Cryo Turkey now operates from nine sites supported by 170 highly competent employees, and is committed to growth and a higher level of service for customers in Turkey and beyond.
The established network supplies a diverse client base, including healthcare and hospitals, shipyards, welding shops, steel mills, fish farms, agriculture and livestock breeding, food and beverage, automotive, construction, and oil refineries, located in Turkey and neighbouring countries in both Europe and the Middle East.
“Turkey is a substantial market on the doorstep of our current geographic reach,” said Naji Skaf, CEO of Gulf Cryo. “Not only does Turkey provide us with significant growth opportunities, it can also serve us as a solid platform for future extension into Eastern Europe.”
Aykut Cakir, General Manager of Gulf Cryo Turkey, said: “The size and capabilities of Gulf Cryo Turkey establish the company as a prominent player in the market, delivering product service, quality, and diversity for a wide range of industries. The market for industrial gases in Turkey is constantly growing, demonstrating double digit growth year-on-year, making this the ideal time for us to expand into this dynamic environment.”