Praxair, Inc. (NYSE: PX) announced that it has acquired five industrial gas businesses, which had combined 2015 annual sales of more than $40 million. With these acquisitions, Praxair is growing geographic density and strengthening its ability to efficiently supply customers. Financial terms of the transactions were not disclosed.
In the U.S., Praxair acquired three independent distributors of industrial and specialty packaged gases – The Welding Center in Illinois, Welder Services in Indiana, and A&B Electric Motors and Supplies in Arizona. In Panama, Praxair acquired Geneva Industrial Gases, a well-established company that provides gases for industrial and medical purposes as well as for the metal fabrication segment.
Additionally, Praxair’s Italian subsidiary, Rivoira, acquired Ossigas S.r.l., a company that produces, sells and distributes medical gases throughout the Southern and Northeastern regions of the country.
Praxair is present in the steel industry. Over 75% of the
world’s stainless steel is produced using proprietary Argon Oxygen
Decarburization process from the company. Today, Praxair remains at the forefront of innovation
in the stainless steel industry by continuously developing specialized
industrial applications and sharing our extensive knowledge about the
production of stainless and specialty steels.
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