Praxair Signs Long-Term Agreement to Supply Samsung Electro-Mechanics in Busan, South Korea
April 20, 2018
DANBURY, Conn., April 20, 2018 – Praxair, Inc. (NYSE:PX) today announced it has signed a long-term agreement to supply industrial gases to Samsung Electro-Mechanics (SEM), one of the world’s largest MLCC (Multi-Layer Ceramic Capacitors) manufacturers.
Praxair has been supplying nitrogen to SEM’s manufacturing facility in the Noksan Industrial Complex in Busan since 2001. The new air separation plant, which will be built, owned and operated by Praxair, will supply an additional 425 tons per day of nitrogen to support SEM’s world-class MLCC manufacturing expansion. The new plant will start up in 2019, further increasing Praxair’s density in the southeast region of South Korea.
"Praxair has been reliably supplying Samsung’s facility in Noksan for over 17 years. We are proud to strengthen this longstanding relationship with SEM and look forward to supporting their ongoing growth and expansion," said B.S. Sung, president of Praxair Korea.
Praxair, Inc. is a leading industrial gas company in North and South America and one of the largest worldwide. With market capitalization of approximately $40 billion and 2017 sales of $11 billion, the company employs over 26,000 people globally and has been named to the Dow Jones® World Sustainability Index for 15 consecutive years. Praxair produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Our 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. For more information about the company, please visit our website at www.praxair.com.