Praxair Expands Business in Peru with Tecnogas
September 24, 2015
DANBURY, Conn., September 24, 2015 – Praxair, Inc. (NYSE: PX) announced today that it has acquired Tecnogas, a local producer and distributor of carbon dioxide and industrial gases in Peru. Financial terms of the transaction were not disclosed.
Tecnogas has been serving customers in Peru for more than 50 years. With annual revenue of approximately $10 million, the business serves almost four hundred customers across a variety of end markets including food and beverage, healthcare and metal fabrication. Additionally, Tecnogas owns and operates three carbon dioxide production plants that Praxair will use to serve the growing demand for the gas in the country.
“The acquisition of Tecnogas is consistent with our business strategy to build production and distribution density in South America,” said Domingos Bulus, president, Praxair South America. “We look forward to serving our new customers with the same high level of dedication, reliability and quality that they have come to expect over the past 50 years.”
“Praxair and Tecnogas share a commitment to delivering the best solutions and operational excellence to our customers,” said Alberto Choy, chairman of Tecnogas. “We are pleased that Praxair will continue the legacy of what we have built at Tecnogas, bringing its worldwide expertise in the industrial gases market to our local operations and customers.”
Praxair, Inc., a Fortune 250 company with 2014 sales of $12.3 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, primary metals and many others. More information about Praxair, Inc. is available at www.praxair.com.