PRAXAIR TO ACQUIRE PROCESS AND CRYOGENIC SERVICES, INC.
PRAXAIR TO ACQUIRE PROCESS AND CRYOGENIC SERVICES, INC. DANBURY, Conn., June 16 /PRNewswire/ -- Praxair, Inc., and Process
and Cryogenic Services, Inc. ("PCSI"), announced today that they have reached agreement in principle for Praxair to acquire certain assets and technology of PCSI, located in Santa Clara, Calif. The announcement was made jointly by Martin Clancy, director, electronics business for Praxair, and Thomas Been, president of PCSI.
PCSI has developed a software system design that, when combined with gas cabinets and valve manifold boxes, will be the state-of-the-art control system for process gases, as well as the industry's most advanced gas management system. "The electronics industry is at the leading edge of technological advancements," said Clancy. "Therefore, it is only appropriate that leading edge equipment be used to support its efforts. We look forward to the integration of PCSI's software and cabinet capabilities with Praxair's cabinet and worldwide sales, marketing and distribution strengths to bring significant benefits to our customers." Clancy added, "Our objective is to improve the profitability of our customers by managing the areas of their manufacturing operation that we do best. This will then free them to redirect their resources to those areas where they are strongest." Praxair, Inc., formerly Union Carbide Industrial Gases Inc., is the largest industrial gases company in the western hemisphere and one of the largest in the world, with 1991 consolidated sales of $2.5 billion. On July 1, Praxair becomes a free-standing, publicly owned company. -0- 6/16/92 /CONTACT: Rose Ann Capozzoli of Praxair, 203-794-5565/ CO: Praxair, Inc.; Process and Cryogenic Services, Inc. ST: Connecticut, California IN: CHM CPR SU: TNM
GK-LR -- NY056 -- 0707 06/16/92 13:30 EDT
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|Date:||Jun 16, 1992|
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