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PRAXAIR AND BEIJING OXYGEN PLANT FORM JOINT VENTURE COMPANY; WILL BUILD NEW 1,500 TONS-PER-DAY PLANT

 PRAXAIR AND BEIJING OXYGEN PLANT FORM JOINT VENTURE COMPANY;
 WILL BUILD NEW 1,500 TONS-PER-DAY PLANT
 BEIJING, China, Aug. 21 /PRNewswire/ -- Praxair, Inc. (NYSE: PX) and the Beijing Oxygen Plant (BOP) today announced they will form a joint- venture company -- Beijing Praxair, Inc. -- that will operate China's largest industrial gas company, located in the country's capital city.
 Praxair and BOP each will have 50 percent ownership in Beijing Praxair. BOP had 1991 sales of US$8 million, and sells 50 percent of the industrial gases sold in the Beijing area. As part of the agreement, Beijing Praxair will build a new 1,500 tons-per-day (TPD) oxygen and nitrogen plant.
 "Praxair's advanced production and distribution technologies for industrial gases will help lower the cost of supplying these products in China," said Edgar G. Hotard, Praxair president, at signing ceremonies held in the Great Hall of the People here today.
 "Also, our unique technologies for supplying industrial gases, coupled with BOP's knowledge of the market, will benefit Chinese industry by increasing productivity, improving product quality, reducing energy consumption, and aiding the environment," he said.
 "BOP is the oldest and largest exclusively industrial gas producer in China -- as Praxair is in the United States. This venture is a good match for the partners, which are committed to serving manufacturers in China," Hotard noted.
 Hotard also announced that DiEldred C. Storm will become general manager of the new company, effective Sept. 1, 1992. Storm, 53, is currently manger, international projects for Praxair in Tonawanda, N.Y.
 Largest Liquefier and Longest Pipeline
 "Storm and the local management team -- with Praxair's full support -- will move quickly to expand Beijing Praxair's capabilities based upon increased business activity in the Beijing area," Hotard said. "The new plant Beijing Praxair will build will produce 450 tons per day of oxygen and 1,050 of nitrogen, and will liquefy up to 200 TPD of both products. It will begin operating by the third quarter of 1994."
 The new facilities will include the largest liquefier ever built in China and the longest oxygen and nitrogen pipelines in the county.
 "China has solid domestic growth and is continuing to open up and reform its economy. We're excited to be part of these historic changes," he added.
 Beijing Oxygen Plant has been exclusively in the industrial gases business for more than 45 years, and has won numerous awards of excellence from the Chinese government.
 This venture is part of Praxair's previously announced strategy to aggressively expand in the key growth markets of Asia and South America. The company recently signed joint venture agreements or bought interests in companies in Indonesia and Argentina.
 Based in Danbury, Conn., Praxair is the largest producer of industrial gases in North and South America, and one of the largest in the world, with annual sales of $2.5 billion.
 -0- 8/21/92
 /CONTACT: Dorea Akers of Praxair, 203-794-6382/
 (PX) CO: Praxair, Inc.; Beijing Oxygen Plant ST: IN: CHM SU: JVN


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Publication:PR Newswire
Date:Aug 21, 1992
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