CYLINDERS HOLDING a. s. bought a 60 percent stake in TECHNOVIT a. s. from Ústí nad Labem. VÍTKOVICE a. s., the strongest European bottling group, acquired the stake in the company, which is active in the market of production and filling of porous material into acetylene cylinders, revision of cylinders for technical gases and ecological recycling of acetylene cylinders. The business "triumvirate" of companies is being created to better position itself on the American market, where the Cylinders Holding group has recently established itself.
Technovit, like Cylinders Holding, is developing the promising business of industrial gases, clean mobility and energy. The Usti company intends to strengthen its position in three main areas: acetylene cylinder preparation, cylinder and bundle revision for industrial gases and disposal of old acetylene cylinders. "Investments will be directed into technologies that will increase the company's automation and capacity in these areas. An essential part of our new strategy is to expand into other markets. In the area of acetylene cylinder filling and assembly, work is already underway to secure certification for the US market and also for the UK market. In the field of revisions, we have newly secured orders from Austria and are preparing for Germany," said Technovit's CEO Veronika Hladová some time ago.
Acetylene cylinders or their bundles are mostly used in the construction, glass and other industries where acetylene is used for highly efficient welding, soldering, flame cutting, forming, etc. Technovit's recycling technology, which is based on the complete processing of all parts of old acetylene cylinders without any residue and therefore without any environmental burden, is enhanced by the addition of a separation line. This innovation also leads to new contracts across the global market.
CONTACT:
Eva Kijonková, media representation CYLINDERS HOLDING, a.s.
Mobile: +420 721 857 097, e-mail: eva.kijonkova@ek-media.com
