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Praxair Inc. (NYSE: PX), Danbury, CT, has acquired Volgograd Oxygen Factory, a producer and distributor of industrial gases in southern Russia, strengthening the company’s merchant liquid and packaged gas business in the region. Terms were not disclosed.
Volgograd Oxygen Factory serves a variety of industries including steel, aerospace, healthcare and food and beverage. Praxair has invested in four other major projects in Russia, with combined production capacity greater than 3,500 tons per day of gaseous and liquid oxygen, nitrogen, hydrogen and argon.
“The acquisition of VOF is consistent with our business strategy to continue to build production and distribution density in southern Russia,” said Todd Skare, president of Praxair Europe. “We expect to derive immediate synergies with Praxair’s newly built air separation plant in Volgograd, as well as the integration of VOF into our existing regional infrastructure. Further, we expect to drive new profitable growth from VOF’s large packaged gas presence in the region.”
Praxair acquired Volzhsky Azot in 2012, which included two air separation units and a bulk and packaged gas business located in the Volgograd region.