Praxair, Inc. (NYSE: PX), Danbury, CT, has agreed to acquire Volzhsky Azot, the industrial and packaged gases business of SIBUR – Russian Tyres in the Volgograd Region of the Russian Federation. The business includes two air separation units and a bulk and packaged gas business. Financial terms of the agreement were not disclosed.
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Praxair has invested in four 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 new air separation units and hydrogen plants will be located in the Volgograd, Sverdlovsk, Rostov and Nizhniy Novgorod regions and will serve customers in the steel, chemical and glass industries.
\”The acquisition of Volzhsky Azot gives Praxair additional assets and distribution capabilities to accelerate the company toward its goal of becoming the leading industrial gas manufacturer in the area of Volgograd and throughout southern Russia,\” said Todd Skare, president of Praxair Europe.
