At the end of July this year, Luxfer Group (Luxfer Holdings PLC), the global materials technology company serving the environmental, healthcare and protection markets, advised it had entered into an arrangement that would lead to the acquisition of Dynetek Industries Ltd, subject to Dynetek shareholders approval. At its general meeting on Friday, 14 September 2012, those shareholders voted overwhelmingly to accept Luxfer’s offer. All required approvals being in place, the transaction was closed. Luxfer Group is the parent company of Luxfer Gas Cylinders.
The acquisition of Dynetek reinforces Luxfer’s position as one of the world’s leading manufacturers of high-pressure gas cylinders, now with eight manufacturing plants in the USA, Canada, UK, France, Germany, China and India, plus joint ventures (in the area of alternative fuel) in India and South Korea.
Dynetek has a leading position in compressed natural gas (CNG) cylinders and alternative fuel (AF) systems for buses and heavy-goods vehicles and is a global authority on portable hydrogen containment. The company operates manufacturing facilities in Canada and Germany.
Brian Purves, CEO of Luxfer Group, said: “I am delighted to welcome Dynetek’s employees, customers and suppliers to Luxfer Group and look forward to working with them in the fast-growing area of alternative fuel systems and transportation modules.”
(This article compiled using information from a Luxfer Gas Cylinders press release)