BOC Opens Largest Commercial Helium Facility in China; Distribution Center Opens in Suzhou Industrial Park.MURRAY HILL Murray Hill may refer to one of the following places:
See: New York Stock Exchange :BOX), one of the world's leading helium suppliers, has recently opened the largest commercial helium facility in China, a distribution center located in Suzhou. BOC opened the distribution center, which will supply gaseous and liquid helium to customers throughout China, earlier this month. The facility is located in one of China's main industrial parks, the China-Singapore Suzhou Industrial Park The China-Singapore Suzhou Industrial Park (中国——新加坡苏州工业园区, SIP) is an industrial park built in Suzhou, China with significant Singaporean input. (SIP) in Jiangsu province. "The Suzhou investment is the latest in a series of commitments that BOC has made to strengthen our position in the rapidly growing Chinese market. BOC plans to continue to invest in our Chinese infrastructure in an effort to provide the highest level of service to Chinese helium customers," said Phil Kornbluth, vice president, global helium, BOC. China is one of BOC's fastest growing helium markets. Demand has grown at the rate of 16 percent during the last five years, driven by scientific and medical applications, such as magnetic resonance imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ) and nuclear magnetic resonance nuclear magnetic resonance: see magnetic resonance. nuclear magnetic resonance (NMR) Selective absorption of very high-frequency radio waves by certain atomic nuclei subjected to a strong stationary magnetic field. (NMR NMR: see magnetic resonance. ), as well as high-tech applications including optical fiber and semiconductor manufacturing. Peter Lu, general manager for Industrial and Special Products North Asia, the business making this investment, said: "BOC supplies significant quantities of helium to MRI manufacturers and most of the new NMR original equipment manufacturers in China. This new plant will help BOC improve its ability to provide efficient and safe service to customers and satisfy their growing demand for helium. It is a milestone for BOC's China helium business and will also contribute to the development of Suzhou industry." BOC employs 18 people at the facility, including drivers, plant workers and managers. Liquid helium is shipped to Shanghai in specially insulated containers from helium sources in the U.S. From there, trucks haul the containers to Suzhou, where it is repackaged for delivery to end customers, most of whom are located in eastern China. Besides the helium facility, BOC has a significant presence in SIP. BOC's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. in Suzhou -- BOC Gases (Suzhou) Co., Ltd. -- has invested millions of dollars to build a compressed gases plant, pipelines and new on-site supply schemes to meet increasing demand for industrial gases from customers in the park. Those customers manufacture a range of products, including chemicals, electronics, telecommunications and automotive equipment. BOC was the first industrial gases company to invest in China in 1987. Since then, BOC has invested some $600 million through its three lines of business and 25 joint ventures and wholly-owned companies. The BOC Group (NYSE:BOX), the worldwide industrial gases, vacuum technologies and distribution services company, serves two million customers in more than 50 countries. It employs 30,000 people and had total revenues of over $8.1 billion in 2005. Further information about The BOC Group may be obtained on the Internet at www.boc.com. |
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