Linde AG / Linde to build Vietnam's largest air separation unit . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Munich, 29 August 2012 - Technology company The Linde Group has been awarded a long-term contract to supply Vietnamese steel company POSCO SS-Vina (PSSV) with industrial gases. PSSV and local Group member Linde Gas Vietnam (LGV) recently signed an agreement to this effect. The deal will see Linde construct the country's largest air separation unit at the Phu My industrial park in Ba Ria (Vung Tau province). The Group will be investing a total of around EUR 40 million in the project.
"We are delighted to have the opportunity to work with POSCO again through this project," said Sanjiv Lamba, Member of the Executive Board of Linde AG responsible for the Group's business in the Asia Pacific. "Our decision to invest and build what will be Vietnam's largest air separation plant, and also Linde's largest investment in the country to date, demonstrates our steadfast commitment to support our valuable customer POSCO in its regional growth plans and meet future market opportunities in Vietnam."
The new state-of-the-art air separation unit will be able to produce 35,000 normal cubic metres of air gases per hour (Nm3/h) and is set to go on stream in 2014. It will supply the new steelworks that PSSV is currently building in Phu My with gaseous oxygen, nitrogen and argon, and also manufacture products for the regional market in southern Vietnam.
Towards the end of 2007, Linde Gas Vietnam was the first industrial gases company to start supplying customers at the Phu My industrial park. LGV currently supports several customers in the cluster with air gases from an existing air separation unit. It also manufactures hydrogen from a steam methane reformer, which - with a capacity of 1,000 Nm3/h - is the largest plant of its type in Vietnam.
The Linde Group is a world-leading gases and engineering company with around 51,000 employees in more than 100 countries worldwide. In the 2011 financial year, it generated revenue of EUR 13.787 bn. The strategy of The Linde Group is geared towards long-term profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment - in every one of its business areas, regions and locations across the globe. The Group is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at http://www.linde.com.
Dr Thomas Hagn
| Investor Relations|
Dr Dominik Heger
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Source: Linde AG via Thomson Reuters ONE
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