The Linde Group sells parts of its industrial gases business in Mexico to Praxair
Wiesbaden/Munich/Danbury, Conn., February 20, 2007 - The technology group The Linde Group has sold its industrial and medical gases business in Mexico to Praxair Inc., Danbury, CT. Linde’s Mexican business operates under the name of the subsidiary AGA S.A. de C.V. Terms of the transaction were not disclosed. The transaction excludes the Mexican assets of the The BOC Group plc, which Linde acquired as part of its worldwide acquisition of BOC.
The transaction has been approved by Mexico’s Federal Competition Commission and is expected to close in a few weeks.
The sale of Linde’s Mexican business is part of a mutual agreement between Linde and Praxair under which Linde had acquired the Turkey based industrial gases producer Karbogaz A.S. in July 2006. Karbogaz was formerly a joint venture company between Ismail Aytemiz of Istanbul and Praxair.
AGA S.A. de C.V. was acquired by Linde in 1999 as part of its acquisition of Swedish gases producer AGA AB. The business operates throughout Mexico, generating sales of approximately 61 million Euro in fiscal 2006.
The Linde Group is a world leading industrial gases and engineering company with more than 53,000 employees working in around 70 countries worldwide. Following the acquisition of The BOC Group the company has gases and engineering sales of approximately 12 billion euro. The strategy of The Linde Group is geared towards earnings-based growth and focuses on the expansion of its international business with forward-looking products and services.
For more information, please see The Linde Group online at http://www.linde.com
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