Italian company Landi Renzo and Clean Energy Fuels, the U.S. supplier of LNG fuel for transportation in North America, decided to merge compression businesses creating a major supplier of natural gas compressors.
The companies will bring together their manufacturing and support operations, with Landi Renzo owning 51 percent of the new company and take over operational management, while Clean Energy will retain a 49 ownership.
The merger is expected to close before the end of the year.
Andrew Littlefair , president and CEO of Clean Energy, will serve as the chairman of the board. The combined company will be headquartered in San Giovanni Persiceto, Italy and retain Clean Energy’s manufacturing operation in Chilliwack, British Columbia, Canada.
Cristiano Musi , who is currently Group CEO of Landi Renzo and will also be the CEO of the new company said, “natural gas is an obvious alternative for vehicles because it burns much cleaner, is plentiful around the world and there is a growing engine portfolio to choose from. This newly formed compressor company will be uniquely positioned to take advantage of the trend towards natural gas with a global footprint and a great product offering.”