Cryogas de Centroamerica, S.A. (Cryogas), a leading supplier of medical and industrial gases in the country of Panama has been acquired by Air Liquide. In doing so the company has galavanised its presence in one of the fastest developing countries in Central America, Panama.
Michael J Graff, President and CEO of American Air Liquide Holdings, Inc. and a member of Air Liquide’s Executive Committee, stated, “Emerging economies are a growth driver of Air Liquide, and the acquisition of Cryogas de Centroamerica and our entry into Panama will enhance our growth in the region and throughout the Americas. Air Liquide’s innovative product offerings as well as demand from critical infrastructure projects such as the Panama Canal expansion should help further drive our business opportunity throughout Latin America. We welcome our newest employees to Air Liquide and the opportunity to develop a key presence in Panama.”
The agreement to purchase Cryogas’ business, operations and assets marks Air Liquide’s entry into the Panama region. Panama is an attractive market as it is one of the fastest developing countries in Central America. In particular it offers good infrastructure and geographic proximity to ensure a stable business environment and growth prospects.