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Praxair/Air Liquide Joint Venture Signs New Hydrogen and Carbon Monoxide Contracts in Shanghai.

Business Editors

DANBURY, Conn.--(BUSINESS WIRE)--Nov. 21, 2003

Shanghai Chemical Industry Park Industrial Gases Company (SCIPIG), a 50-50 joint venture between Praxair, Inc. (NYSE:PX) and Air Liquide, two leading global suppliers of industrial gas, today announced the signing of two major industrial gas pipeline supply contracts with Shanghai Lianheng Isocyanate Company Limited (SLIC) and Shanghai BASF Polyurethane Company Limited (SBPC) respectively.

Under the contracts, SCIPIG will supply hydrogen and carbon monoxide from its HYCO facility to the chemical plants of SLIC and SBPC.

SLIC is a joint venture among Huntsman, BASF, Shanghai Hua Yi Group, Shanghai Chlor-Alkali Chemical Co., Ltd. and the Shanghai Gaoqiao Petrochemical Company. SBPC is a joint venture among BASF, Shanghai Hua Yi Group and the Shanghai Gaoqiao Petrochemical Company. Both contracts are expected to begin in the first half of 2006.

These contracts add to the list of achievements for the newly formed SCIPIG. With a total investment of $100 million, SCIPIG broke ground in August at the Shanghai Chemical Industry Park at Caojing to provide customers in the park with a stable and reliable supply of industrial gases. Prior to the groundbreaking, the company had already been awarded major contracts by BASF and Shanghai SECCO Petrochemical.

Minda Ho, chairman of SCIPIG, said: "Signing these contracts with SLIC and SBPC further strengthens our position as the key industrial gas supplier to chemical companies in the park. It represents another vote of confidence by our customers in SCIPIG's ability to contribute to their growth in China."

Michael Douglas, president of Praxair Asia, said: "These new wins allow Praxair to continue its commitment to the development of the chemical industry in China through the injection of financial and human resources, as well as technical know-how."

Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2002 sales of $5.1 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technology bring productivity and environmental benefits to a wide variety of industries, including aerospace, food and beverage, healthcare, semiconductor materials, steel, chemicals and refining, metal fabrication, water treatment, glass and others. For more information, please visit Praxair on the Internet at www.praxair.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Nov 21, 2003
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