Praxair, Inc., a leading global supplier of carbon dioxide (CO2) and other industrial gases, has completed its acquisition of Yara International ASA’s (Yara) European CO2 business. Praxair also finalised the acquisition of Yara’s remaining 34% stake in the Yara Praxair Holding AS industrial gas joint venture.
In 2015, Yara’s European CO2 business provided liquid CO2 and dry ice primarily to the food and beverage industries, generating revenue of €112 million. The business operates CO2 liquefaction plants and dry ice production facilities across the UK, Ireland, Scandinavia, Germany, Benelux, France and Italy. The Yara Praxair Holding AS joint venture, operating in Scandinavia, was formed in 2007.
“These transactions are consistent with our business strategy to expand our presence in resilient end markets such as food and beverage, as well as drive growth through synergistic acquisitions,” said Steve Angel, Chairman and Chief Executive Officer of Praxair.
Adapted from press release by Francesca Brindle