Praxair Acquires Abler GmbH & Co. KG in Germany; Closes On Treffers Precision in Arizona.DANBURY, Conn--(BUSINESS WIRE)--April 6, 1998--Praxair, Inc. (NYSE NYSE See: New York Stock Exchange :PX) today announced that Praxair Surface Technologies has acquired the assets of Abler GmbH & Co. KG, located in Wiggensbach, Germany. Separately, Praxair announced it has completed its previously announced acquisition of Treffers Precision, Inc. in Phoenix, Ariz. Abler is a leading European distributor of thermal spray Thermal Spray techniques are coating processes which involve spraying melted (or heated) materials onto a surface. As such thermal spraying is a line-of-sight process. The energy to heat the feedstock (coating precursor) is supplied by electrical (plasma or arc) or chemical means coating equipment, powders, wires and other consumables, with annual sales of approximately US$6 million. The company employs 10 people. "The Abler acquisition will provide our specialty products group with its first direct selling Direct selling is the marketing of products or services to consumers through sales tactics including presentations, demonstrations, and phone calls. It is sometimes also considered to be a sale that does not utilize a "middle man" such as a retail outlets, distributors or brokers. and service presence in Europe and is consistent with the company's balanced investment program," said Praxair Surface Technologies president Thomas W. von Krannichfeldt. "Abler will become Praxair's European hub to support major growth markets for thermal spray systems and related products." Treffers Precision, Inc., with annual sales of approximately US$17 million, is primarily a metal finishing business providing chrome, nickel, cadmium and copper plating Copper plating is the process in which a layer of copper is deposited on the item to be plated by using an electric current. Three basic types of processes are commercially available based upon the complexing system utilized. and anodizing anodizing Method of coating metal for corrosion resistance, electrical insulation, thermal control, abrasion resistance, sealing, improving paint adhesion, and decorative finishing. for aerospace gas turbine engine components, as well as other industrial applications. The company also provides repair services on airframe components, manufactures shafts for small motors and computer applications, and manufactures and anodizes electrodes used in semiconductor processing equipment. Praxair Surface Technologies has completed 12 global acquisitions over the past three years, representing combined sales of about US$105 million. Earlier acquisitions include Pyromet Enterprises, Seattle Specialty Ceramics, Inc. and Miller Thermal in the U.S.; BAJ BAJ Belarusian Association of Journalists BAJ Brewers Association of Japan BAJ Bristol Aerojet (UK) Coatings Ltd. and the Sandon division of Brent International in the U.K.; Coatec Gesellschaft fur Oberflachenveredelung mbH in Germany; Rolmaster Industrial LTDA LTDA Limitada (Portuguese; similar to Limited Liability Company) LTDA Limitada (Spanish) LTDA London Taxi Drivers Association LTDA Lower Tier Defended Area LTDA Low Temperature Die Attach in Brazil; Metalcoat S.A. in Spain; H.L. Graphia in Denmark; and Laser Metalworking S.r.l. in Italy. Praxair Surface Technologies is a 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. of Praxair, Inc., with 35 facilities in 11 countries and 1997 annual sales of US$381 million. The company is a leading worldwide supplier of powders, coatings and other products for a variety of industries, including aircraft, printing, textile, chemical, primary metals, semiconductors and optical. It also provides aircraft engine and airframe component repair services. Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 1997 sales of US$4.7 billion. The company is a recognized leader in the commercialization of new technologies that bring productivity and environmental benefits to a diverse group of industries. More information concerning Praxair and Praxair Surface Technologies and the text of this news release can be found on the Internet at www.praxair.com. CONTACT: Media Relations Investor Relations Investor relations The process by which the corporation communicates with its investors. William Hoerger Joseph Cappello (203) 837-2145 (203) 837-2073 bill_hoerger@praxair.com joe_cappello@praxair.com |
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