GE to acquire designer, manufacturer of small LNG technologies Salof
HOUSTON -- GE Oil & Gas today announced that it has agreed to acquire substantially all of the assets of Schertz, Texas-based Salof Companies, a designer of small-scale LNG technologies.
Privately-held Salof is known for its cryogenic plant design and fabrication for small LNG and CO2 applications. Already active in large-scale LNG technologies, GE recently launched LNG solutions with a significantly smaller footprint and capacity. The transaction is subject to customary closing conditions, including regulatory approval.
In North America, the demand for small-scale LNG production is growing as vast new discoveries of natural gas are making it cost efficient to use cleaner burning natural gas for transportation, fleet management, marine and other industrial uses. The technologies can encourage the transition of long-haul trucks and locomotives from diesel fuel to LNG, contribute to emissions reduction, capture flare gas at drilling sites and landfills, and help eliminate the need for costly pipeline infrastructure in remote areas. Additionally, small-scale LNG technology is employed to develop export terminal infrastructure for LNG.
Small LNG solutions typically offer a cost-effective standard or modular, plug-and-play solution. They can be located in remote areas, industrial sites or even highway fueling stations. Depending on the design, they can be moved and redeployed as needed.
Salof has nearly 200 employees located at its Schertz manufacturing facility. Together with the U.S. acquisition, GE will acquire a 50% ownership interest in Beijing enCryo Engineering, a Beijing-based JV with Beijing Maison Engineering, that has been a reliable partner with the Salof for projects in China and elsewhere.