Praxair Signs Long Term Contract and Expands Enclave Supply in South Korea
January 23, 2014
DANBURY, Conn., January 23, 2014 – Praxair, Inc. (NYSE:PX) has signed a long-term contract with Taewoong Steel Co. LTD to supply high-purity oxygen to the company’s steel mill facility in Busan, Korea. Praxair will construct a new 180 tons per day air separation plant and pipeline in the Mieum Foreign Industrial Zone in Busan that will serve Taewoong, as well as new and other existing customers. The plant is expected to start up in 2016.
“We look forward to supplying Taewoong Steel with the high-quality gases it needs to serve its customers across a variety of growing industries,” said S.B. Seo, president of Praxair Korea. “This new state-of-the-art plant will also enable us to meet growing industrial gases demand from businesses across southern Korea.”
The new plant will help Taewoong meet customer demand for high-quality forged metal products in the wind turbine, shipbuilding, chemical and power plant sectors.
The plant will also increase Praxair’s supply of gaseous nitrogen, delivered via pipeline, to meet growing demand from an existing electronics customer. In addition, the plant will supply oxygen, nitrogen and argon to local merchant liquid customers in southern Korea for such industries as shipbuilding, metals, mechanics, steel fabrication and others.
Praxair, Inc., a Fortune 250 company with 2012 sales of $11 billion, is the largest industrial gases company in North and South America and one of the largest worldwide. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and many others. More information about Praxair, Inc. is available at www.praxair.com.