Air Liquide acquires Panama’s Cryogas de Centroamerica

28 July 2010 17:13  [Source: ICIS news]

LONDON (ICIS)--Air Liquide has acquired Cryogas de Centroamerica, a supplier of medical and industrial gases in Panama, said the French specialty gases company in a statement on Wednesday.

The firm said it had agreed to purchase Cryogas’s business operations and assets, which included its air separation unit and filling, distribution and retail sales activities, but it did not reveal the financial details of the deal.

“Emerging economies are a growth driver of Air Liquide, and the acquisition of Cryogas de Centroamerica and our entry into Panama will enhance our growth in the region and throughout the Americas,” said Michael Graff, president and CEO of American Air Liquide Holdings.

“Air Liquide’s innovative product offerings as well as demand from critical infrastructure projects such as the Panama Canal expansion should help further drive our business opportunity throughout Latin America,” Graff added.

Air Liquide said the deal marked the group’s entry into Panama, which it described as one of the fastest-developing countries in Central America, offering good infrastructure and strong growth prospects.

Cryogas is based in Panama City and employs more than 80 people.

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By: Franco Capaldo
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