24 June 2013 14:39 [Source: ICIS news]
LONDON (ICIS)--Praxair has acquired Russia-based industrial gases producer and distributor Volgograd Oxygen Factory (VOF) for an undisclosed fee, the US-based international industrial gases major said on Monday.
The company said the deal will be “significantly strengthening the company’s merchant liquid and packaged gas business” in Russia.
Praxair said it has invested in four other major projects in Russia, with combined production capacity greater than 3,500 tonnes/day of gaseous and liquid oxygen, nitrogen, hydrogen and argon.
In addition, the company acquired Volzhsky Azot in 2012, which included two air separation units and a bulk and packaged gas business located in Volgograd.
“The acquisition of VOF is consistent with our business strategy to continue to build production and distribution density in southern Russia,” said Todd Skare, president of Praxair Europe.
“We expect to derive immediate synergies with Praxair’s newly built air separation plant in Volgograd, as well as the integration of VOF into our existing regional infrastructure. Further, we expect to drive new profitable growth from VOF’s large packaged gas presence in the region.”
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections