BOC Expands Leadership Position in China; Signs Major Contract with Steel Maker.Business Editors SINGAPORE--(BUSINESS WIRE)--Jan. 14, 2004 BOC (Bell Operating Company) One of 22 companies that was formerly part of AT&T and later organized into seven regional companies. See RBOC. (LSE LSE - Language Sensitive Editor : BOC), the number one industrial gases company in Asia, has further expanded its leadership position in China by signing a major contract for the supply of oxygen to the Taiyuan Iron and Steel Corporation (TISCO TISCO Tata Iron and Steel Company Limited TISCO Tractor Implement Supply Company ), located in the Shanxi province of north-central China. The contract calls for an investment of over USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 80m (GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 50m) by BOC-TISCO, the joint venture between BOC and TISCO. BOC-TISCO will install two additional air separation units (ASUs) at TISCO's steel plant to increase the supply by 2,800 tonnes a day of oxygen, as well as significant quantities of nitrogen and argon argon (är`gŏn) [Gr.,=inert], gaseous chemical element; symbol Ar; at. no. 18; at. wt. 39.948; m.p. −189.2°C;; b.p. −185.7°C;; density 1.784 grams per liter at STP; valence 0. . When the ASUs begin operating at the end of 2005, the complex, which currently supplies 1,500 tonnes a day, will be the largest third party gases supply scheme in China. "This contract is further evidence of BOC's capability to develop customer specific solutions across the globe," said Trevor Burt, managing director, BOC Process Gas Solutions, north Asia North Asia or Northern Asia is a subregion of Asia. The most common definition of the term is;
"As the first major industrial gases company to invest in China, BOC is continuing a 20-year commitment that has established us as the clear market leader," Burt said. TISCO is the largest stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. producer in China. It has been confirmed by the central government as one of two stainless steel development centers in the country. TISCO estimates that its current production of nearly 600,000 tonnes a year of crude stainless steel will rise to 900,000 tonnes by 2005, which will make it one of the five largest stainless steel producers in the world. "Through its global organization, BOC is committed to helping its customers address their operational needs with integrated solutions. We have partnered with iron and steel producers around the world to deliver gases, environmental controls and specialized combustion technology to help them enhance efficiency and productivity so they can improve competitiveness under dynamic market conditions," said Ben Van Den Hooven, president, BOC Process Systems. Over the past five years, BOC's tonnage business with the global metals industry has grown by more than 20%, with significant growth concentrated in China and other parts of Asia. As a strategic supplier to the global ferrous ferrous (fĕr`əs), iron in the +2 valence state. Containing or having to do with iron. The difference between ferrous and ferric is the number of valence electrons they contain (ferrous contains two and ferric contains three), which and non-ferrous industries, BOC delivers high-quality gases and a variety of technologies aimed at improving product quality, boosting efficiency and enhancing environmental performance. The BOC Group, (LSE: BOC), the worldwide industrial gases, vacuum technologies and distribution services company, serves two million customers in more than 50 countries. It employs 44,500 people and had annual sales of over $7 billion in 2003. Further information about The BOC Group may be obtained on the Internet at http://www.boc.com. |
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