Praxair Expands Presence in Southern Russia with Acquisition of Volgograd Oxygen Factory

  Praxair Expands Presence in Southern Russia with Acquisition of Volgograd
  Oxygen Factory

Business Wire

DANBURY, Conn. & MOSCOW -- June 24, 2013

Praxair, Inc. (NYSE: PX) has acquired Volgograd Oxygen Factory (VOF), a
leading producer and distributor of industrial gases in southern Russia,
significantly strengthening the company’s merchant liquid and packaged gas
business in this key region. Financial terms of the transaction were not
disclosed. This is the latest in a series of investments in Russia that
expands Praxair’s production and distribution capacity.

VOF is an established leader in the Volgograd region, serving more than two
thousand customers in a variety of industries including steel, aerospace,
healthcare and food and beverage. Praxair has invested in four other major
projects in Russia, with combined production capacity greater than 3,500 tons
per day of gaseous and liquid oxygen, nitrogen, hydrogen and argon. In
addition, the company acquired Volzhsky Azot in 2012, which included two air
separation units and a bulk and packaged gas business located in the Volgograd
region.

“The acquisition of VOF is consistent with our business strategy to continue
to build production and distribution density in southern Russia,” said Todd
Skare, president of Praxair Europe. “We expect to derive immediate synergies
with Praxair’s newly built air separation plant in Volgograd, as well as the
integration of VOF into our existing regional infrastructure. Further, we
expect to drive new profitable growth from VOF’s large packaged gas presence
in the region.”

“We see Praxair as a high-quality investor for the development of industrial
gases in Russia,” said Vladimir Pantyashin, general director of VOF. “After
managing this company for more than 24 years, we are confident Praxair will
bring additional experience, support and infrastructure to ensure future
success in the growing industrial gases market of southern Russia.”

About Praxair

Praxair, Inc. is the largest industrial gases company in North and South
America, and one of the largest worldwide, with 2012 sales of $11 billion. The
company produces, sells and distributes atmospheric, process and specialty
gases, and high-performance surface coatings. Praxair products, services and
technologies are making our planet more productive by bringing efficiency and
environmental benefits to a wide variety of industries, including aerospace,
chemicals, food and beverage, electronics, energy, healthcare, manufacturing,
metals and others. More information about Praxair, Inc. is available at
www.praxair.com and at www.praxair.ru.

Contact:

Praxair, Inc.
Media
Lisa Esneault, (203)-837-2671
lisa_esneault@praxair.com
or
Investor
Kelcey Hoyt, (203)-837-2118
kelcey_hoyt@praxair.com
 
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