Praxair to Acquire Linde's Industrial Gases Business in Mexico.DANBURY, Conn. -- Praxair Inc. (NYSE NYSE See: New York Stock Exchange : PX) announced today that it has entered into a definitive agreement with The Linde Group to acquire Linde's industrial and medical gases business in Mexico. Linde's Mexican business operates under the name of AGA S.A. de C.V. Terms of the transaction were not disclosed. The transaction excludes the Mexican assets of the BOC (Bell Operating Company) One of 22 companies that was formerly part of AT&T and later organized into seven regional companies. See RBOC. Group, which Linde acquired as part of their worldwide acquisition of BOC. The agreement has been approved by Mexico's Federal Competition Commission and the transaction is expected to close in a few weeks. The sale of Linde's Mexican business is part of a mutual agreement between Praxair and Linde under which Linde acquired the Turkey-based industrial gases producer Karbogaz A. S. in July, 2006. Karbogaz was formerly a joint venture company between Praxair and Ismail Aytemiz of Istanbul, Turkey. AGA S.A. de C.V. was acquired by the Linde Group in 1999 as part of its acquisition of Swedish gases producer AGA A.B. The business operates throughout Mexico, generating sales of approximately $75 million in fiscal 2006. "The acquisition of AGA S.A. de C.V. will increase our presence in the metropolitan area of Mexico City Mexico City Spanish Ciudad de México City (pop., 2000: city, 8,605,239; 2003 metro. area est., 18,660,000), capital of Mexico. Located at an elevation of 7,350 ft (2,240 m), it is officially coterminous with the Federal District, which occupies 571 sq mi and place Praxair Mexico in a position to maintain its strong sales growth in the years ahead," said Eduardo Menezes, managing director, Praxair Mexico. Praxair, Inc. is the largest industrial gases company in North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , and one of the largest worldwide, with 2006 sales of $8.3 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings Surface coating A substance applied to other materials to change the surface properties, such as color, gloss, resistance to wear or chemical attack, or permeability, without changing the bulk properties. . Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion