DANBURY, Conn.--(Business Wire)--
Praxair, Inc. (NYSE: PX) has announced that its wholly-owned subsidiary, Praxair
(China) Investment Co., Ltd., has set up a joint venture in Guangzhou, southern
China, with China Petroleum & Chemical Corporation (Sinopec).
The joint venture, Praxair-GPC Industrial Gases Co. Ltd., will produce, sell and
distribute industrial gases such as oxygen, nitrogen, and argon for a wide range
of industrial applications. It will also meet the demands of Sinopec Guangzhou
Company for a quality, reliable nitrogen supply. The venture is expected to
start operations in the 4th quarter of 2009.
"This first alliance with Sinopec is a major milestone for Praxair China," said
David Chow, President of Praxair China. "It is also a demonstration of our
commitment to continued investment in the Chinese marketplace."
About Sinopec
China Petroleum and Chemical Corporation (NYSE: SNP.N) is an integrated energy
and chemical company with principal businesses of exploration, production and
trading of petroleum and natural gas, refining and sales of petroleum products
and production and sales of chemical products. For more information on Sinopec
contact www.sinopec.com.
About Praxair China
Praxair (China) Investment Co., Ltd is a leading industrial gas provider in
China. It is headquartered in Shanghai, has 18 wholly owned companies, 10 joint
ventures and over 1,200 employees in the country. More information on Praxair
China is available on the Internet at www.praxair.cn.
About Praxair
Praxair is the largest industrial gases company in North and South America, and
one of the largest worldwide, with 2008 sales of $10.8 billion. The company
produces, sells and distributes atmospheric, process and specialty gases, and
high-performance surface coatings. Praxair products, services and technologies
bring productivity and environmental benefits to a wide variety of industries,
including aerospace, chemicals, food and beverage, electronics, energy,
healthcare, manufacturing, metals and others. More information on Praxair is
available on the Internet at www.praxair.com.
Praxair, Inc.
Media
Susan Szita Gore, 203-837-2311
susan_szita-gore@praxair.com
or
Investors
Elizabeth Hirsch, 203-837-2354
liz_hirsch@praxair.com
Copyright Business Wire 2009
