Cryenco Inc., based in Englewood, Colo., has acquired the assets of Ogden-based Gibson Cryogenics Inc. yielding a $6.1 million federal contract. Terms of the acquisition were not disclosed.
Cryenco acquired assets of Gibson Cryogenics and assumed the rights to a $6.1 million contract to provide 5,000-gallon liquid oxygen tanks to Kelly Air Force Base in San Antonio, Texas.Kelly Air Force Base issued the order for the tanks in 1986, and Gibson, successful bidder on the project, had not delivered. Gibson filed for Chapter 11 reorganization in 1987.
Cryogenics involves the science of very low temperatures and their effect on the properties of matter, such as liquid oxygen at minus 279 -degrees Fahrenheit.