Printer Friendly

PRAXAIR UNIT IN MAJOR ARGENTINE ACQUISITION; PRAXAIR EXPANDS SOUTH AMERICAN PRESENCE; MERCOSUL PROPOSAL SPURS ARGENTINE MARKET ENTRY

PRAXAIR UNIT IN MAJOR ARGENTINE ACQUISITION; PRAXAIR EXPANDS SOUTH
 AMERICAN PRESENCE; MERCOSUL PROPOSAL SPURS ARGENTINE MARKET ENTRY
 BUENOS AIRES, July 30 /PRNewswire/ -- Praxair, Inc. (NYSE: PX), through its SA White Martins regional company in Brazil, has purchased controlling interest in Argentina's leading industrial gases company.
 White Martins announced the purchase of 60 percent of the stock of Fracchia Hermanos SA in ceremonies today. The Argentinian company is headquartered here.
 Fracchia has been in the industrial and medical gases business for nearly 30 years, and family-owned since its founding. It had 1991 net sales of $15 million.
 Sergio Costa, industrial products director for SA White Martins, will serve as president of Fracchia.
 At today's ceremonies, Praxair president Edgar G. Hotard called the acquisition of Fracchia Hermanos "an important step forward in our strategy to increase Praxair's penetration of the Latin American market. We believe this area will continue to develop rapidly with the changing free-market economic and political policies."
 According to Felix de Bulhoes, chairman of SA White Martins, the association between a Brazilian and an Argentinian-based company "is one of the industry's first results of the economic opportunities created by the Mercosul agreement."
 Mercosul is a free trade treaty initially involving four South American countries -- Brazil, Argentina, Uruguay and Paraguay. The agreement aims at elimination of trade barriers by 1995.
 SA White Martins is the leading industrial gases company in Brazil. Praxair is the largest supplier of industrial gases in North and South America and one of the largest worldwide.
 -0- 7/30/92
 /CONTACT: Alan Markow, 203-794-5568, or Wilberto Lima (in Rio de Janeiro), 011-55-21-211-6478, both for Praxair/
 (PX) CO: Praxair Inc.; SA White Martins; Fracchia Hermanos SA ST: Connecticut IN: CHM SU: TNM


LR-SH -- NY091 -- 5253 07/30/92 16:03 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 30, 1992
Words:294
Previous Article:NORTH AMERICAN MORTGAGE COMPANY REPORTS SECOND QUARTER NET EARNINGS UP 123 PERCENT
Next Article:CHRYSLER REPORTS ASSEMBLY PLANT SCHEDULE FOR WEEK ENDING AUG. 7
Topics:


Related Articles
TRAVASSOS NAMED PRESIDENT OF PRAXAIR ASIA
PRAXAIR AND BEIJING OXYGEN PLANT FORM JOINT VENTURE COMPANY; WILL BUILD NEW 1,500 TONS-PER-DAY PLANT
PRAXAIR COMPLETES FORMATION OF BOARD OF DIRECTORS
PRAXAIR REALIGNS NORTH AMERICAN BUSINESS
PRAXAIR SUBSIDIARY COMPLETES PURCHASE OF ARGENTINE COMPANY
S.A. WHITE MARTINS, A PRAXAIR SUBSIDIARY, PARTICIPATES IN BRAZILIAN PRIVATIZATION
WHITE MARTINS ANNOUNCES ITS ENTRY INTO COLOMBIA
PRAXAIR COMPLETES $35 MILLION UPGRADE AT ECORSE AIR SEPARATION FACILITY
CBI TO REVIEW THE PRAXAIR PROPOSAL IN DUE COURSE
Alcan Reaches Agreement in Principle on Sale of Mercus High Purity (5N) Activity.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters