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TheStreet Open House

Praxair Improves Operational Efficiencies With Acquisition Of Messer Group Industrial Gases Business In Italy And Divestiture In France

Stock quotes in this article: PX

Praxair, Inc. (NYSE:PX) announced it has strengthened its position in Italy through the acquisition of Messer Italia S.p.A’s liquid carbon dioxide, oxygen, nitrogen and argon and packaged gases businesses. The businesses will be fully integrated into the operations of Praxair’s Italian joint venture, Rivoira S.p.A. Terms of the agreement were not disclosed.

“We continue to execute on our business strategy of building out production and distribution density in key geographies,” said Todd Skare, president, Praxair Europe. “We will seamlessly integrate these assets into current operations and drive productivity gains. Our expanded operations will also enable us to supply industrial gases to our customers across the country even more efficiently.”

In addition, Praxair sold its industrial gases operations in France to Messer France SAS. Praxair’s French operations included three air separation units and two packaged gas filling stations. Prior to this agreement, Praxair had a small industrial gases presence in France. This transaction enables the company to deliver on its stated strategy of investing in its core geographies.

About Praxair

Praxair, Inc., a Fortune 250 company with 2013 sales of $12 billion, is the largest industrial gases company in North and South America and one of the largest worldwide. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and many others. More information about Praxair, Inc. is available at www.praxair.com.



Copyright Business Wire 2010

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