16 August 2011 17:14 [Source: ICIS news]
HOUSTON (ICIS)--US Praxair has acquired Weldco, an Ohio-based distributor of industrial and specialty gases and welding equipment, supplies and services, Praxair said on Tuesday.
The addition of Weldco to Praxair’s distribution subsidiary will strengthen the company’s distribution network in southwest Ohio and northeast Kentucky, the company said.
Financial terms of the deal were not disclosed. Weldco has 23 employees and yearly sales of about $8m (€5.5m).
“Praxair will continue to take a proactive, targeted approach to acquire high quality independent distributors aligned with Praxair’s business strategy,” said John Panikar, president of Praxair Distribution.
Praxair is the largest industrial gases company in North and South America.
The company produces, sells and distributes atmospheric and process gases as well as high-performance surface coatings.
($1 = €0.69)
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