|By Business Wire||
|February 3, 2014 03:59 PM EST||
Praxair, Inc. (NYSE: PX) announced it has completed the acquisition of Praxair Distribution Mid-Atlantic, LLC (PDMA), its industrial gases distribution joint venture. Praxair previously held a majority ownership stake in the business. Terms of the agreement were not disclosed.
PDMA is the largest industrial gases distributor in the U.S. Mid-Atlantic region, operating 51 production and distribution facilities. With 2013 sales of over $225 million, the business serves approximately 39,000 customers in the healthcare, pharmaceutical, environmental, chemical, bio-technology, university research and metal fabrication industries.
“Fully integrating PDMA’s operations into our core packaged gases business will enable us to achieve further synergies,” said Scott Kaltrider, president Praxair Distribution, Inc. “This business is an attractive mix of industrial gases and welding products and supplies and has successfully been aligned with our operations over the past six years."
Praxair, Inc., a Fortune 250 company with 2013 sales of $12 billion, is the largest industrial gases company in North and South America and one of the largest worldwide. 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 many others. More information about Praxair, Inc. is available at www.praxair.com.