Fives

Alfa Laval has completed the acquisition of the cryogenics business unit of Fives Group, an expert in cryogenic heat transfer and pump technologies.

Alfa Laval has completed the acquisition of the cryogenics business unit of Fives Group, now Fives Energy Cryogenics, a maker of cryogenic heat exchangers and pumps. The business joins Alfa Laval's Energy Division as a new separate unit.

Alfa Laval signed a binding put-option agreement to acquire the Fives Cryogenics business unit of Fives Group for a fixed price of EUR 800 million, subject to works council consultation.

Fives inaugurated a new 7,000 sqm workshop at its Fives Cryo Suzhou subsidiary in Taicang, Jiangsu, funded by a EUR 7 million investment. It will make hydrogen-proven cryogenic equipment, combustion products and control systems.

Plug Power signed a collaboration agreement with Atlas Copco Mafi-Trench and Fives to jointly develop hydrogen liquefaction plants. The partnership aims to standardize turnkey liquefier plants for global markets.

Fives will supply new process and transfer Cryomec LABS and NLL centrifugal pumps to Turkish steelmaker Diler Demir Çelik for its air separation unit plant. The pumps will be manufactured at Fives' workshop in Allschwil, Switzerland.

Fives has been selected by a major Chinese air separation equipment maker to supply nine Cryomec LABS cryogenic pumps, including engineering, manufacture and on-site installation, for projects in Fujian and Inner Mongolia.

Fives will supply a Single input Electrically Variable Transmission for the Pacifica hybrid at FCA's Tipton Transmission Plant in Indiana, with volume designed for 30,000 rising to 50,000 units and delivery planned for April 2018.