Skaff Cryogenics and FNF Gas Technology Products Form Exclusive Distribution Agreement
Skaff Cryogenics, Inc. (SCI) of Brentwood, New Hampshire reached an agreement with FNF Gas Technology Products Pvt. Ltd. (FNF) of Vadodara, India to be the exclusive supplier of FNF’s cryogenic products in the United States. As part of the agreement, FNF will deliver semi-finished cryogenic tanks to SCI’s facility in New Hampshire, where SCI will perform all of the finishing work, including blasting, painting and plumbing.
This agreement provides SCI with an opportunity to source high quality tanks to distribute to the company’s extensive list of customers in the gas containment industry. The agreement also provides FNF with a strong distribution partner in the US to sell its products manufactured in India. The two companies will be able to leverage each other’s expertise and offer customers safe, reliable, and technically superior cryogenic tanks at attractive prices. The exclusive distribution agreement is for three years and together the companies will be effective in growing their businesses in the United States.
FIBA Technologies, Inc. and NEW FIELD Industrial Equipment Pvt. Ltd. Announce the Formation of a Joint Venture to Manufacture Cryogenic and CNG Equipment in India
Indian-based, NEW FIELD Industrial Equipment Pvt. Ltd. (“NEW FIELD”) and U.S.-based FIBA Technologies, Inc. (“FIBA”) have united in a joint venture to manufacture cryogenic equipment and CNG products in India. This 50/50 joint venture will leverage FIBA’s vast experience and knowledge of cryogenic and CNG equipment and NEW FIELD’s long history of pressure vessel manufacturing and engineering. The joint venture will be named FIBA NEW FIELD Gas Technology Products Pvt. Ltd. (“FNF Gas”) and will be headquartered in Vadodara, Gujarat, India. Operations at the company’s facility in Vadodara will commence in March 2011.
FNF Gas Technology Products will be attending NGV India 2010, the 2nd International Natural Gas for Vehicles event held in India. The event will be held at Bombay Exhibiton Centre (BEC) premier trade exhibition from November 24th -26th. Sumul Patel, President and CEO of FNF, will be present along with partner John Finn SR., President and CEO of FIBA Technologies. Please visit FNF’s booth, A21.
India has the 5th largest fleet of natural gas vehicles in the world but most importantly holds the highest NGV growth potential in the world with over 220 cities planned for CNG development, a nationwide distribution pipeline By 2012 India’s CNG pipeline will stretch 12,000 km, connect 15 states and reach a population of 160,000,000 people, making it the number one NGV investment opportunity in the world today.