Praxair Acquires PortaGas
Praxair Distribution, Inc., a subsidiary of Praxair (NYSE: PX), has acquired PortaGas, Inc., a leading producer of portable cylinder gases for the specialty gases market. PortaGas has 40 employees at its new and fully-automated specialty gases facility located in the greater Houston area. Financial terms of the transaction were not disclosed.
PortaGas supplies a variety of calibration gases used in industrial hygiene and safety applications. PortaGas has also developed unique, recyclable cylinders as an alternative to disposable cylinders.
“Praxair is a perfect fit for us," said Kaushik “Ken” Parekh, chief executive officer of PortaGas. "Combining our business with Praxair's gives us a stronger support network that expands our global reach.”
“The addition of PortaGas broadens Praxair's offering of portable cylinder gases,” said John Panikar, president, Praxair Distribution, Inc. “PortaGas' recyclable cylinders provide customers with an environmentally-friendly option and are a testament to Praxair's commitment to sustainability. PortaGas has a world-class facility, highly capable people and extensive product offerings to support growth. We look forward to sharing technology and best practices,” added Panikar.
Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2011 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 productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others.
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