Praxair Inc. has expanded its business in Peru by acquiring Tecnogas, a local producer and distributor of CO2 and industrial gases in Peru. Financial terms of the transaction were not disclosed.
Tecnogas has been serving customers in Peru for more than 50 years. With annual revenue of approximately US$10 million, the business serves almost 400 customers across a variety of end markets including food and beverage, healthcare and metal fabrication. Additionally, Tecnogas owns and operates three CO2 production plants that Praxair will use to serve the growing demand for the gas in the country.
“The acquisition of Tecnogas is consistent with our business strategy to build production and distribution density in South America,” said Domingos Bulus, President, Praxair South America. “We look forward to serving our new customers with the same high level of dedication, reliability and quality that they have come to expect over the past 50 years.”
“Praxair and Tecnogas share a commitment to delivering the best solutions and operational excellence to our customers,” said Alberto Choy, Chairman of Tecnogas. “We are pleased that Praxair will continue the legacy of what we have built at Tecnogas, bringing its worldwide expertise in the industrial gases market to our local operations and customers.”
Edited from press release by Angharad Lock
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/25092015/praxair-acquires-tecnogas-1486/