Praxair, Inc. has entered into an agreement with SIBUR-Russian Tyres in which it will acquire its industrial and packaged gases business in the Volgograd region of the Russian Federation.
The business, operating under the name Volzhsky Azot, includes two air separation units and a bulk and packaged gas business. Todd Skare, President of Praxair Europe applauded the latest acquisition, he said, “The acquisition of Volzhsky Azot gives Praxair additional assets and distribution capabilities to accelerate the company toward its goal of becoming the leading industrial gas manufacturer in the area of Volgograd and throughout southern Russia.”
…we are happy to partner with the leading industry player.
Dmitry Sokov, Chief Executive Officer of SIBUR- Russian Tyres
“SIBUR - Russian Tyres’ professionalism, commitment to sound business practices and operational excellence are well aligned with our own. We intend for this transaction to be the first of many opportunities for Praxair to work with the companies that are part of SIBUR’s diverse businesses.”
To date Praxair has invested in four major Russian projects with a combined production capacity greater than 3,500 tons per day of gaseous and liquid oxygen, nitrogen, hydrogen and argon.
The new air separation units and hydrogen plants will be located in Volgograd, Sverdlovsk, Rostov and Nizhniy Novgorod regions. They will supply a diverse group of customers in the steel, chemical and glass industries and promise to provide low-cost, high reliability industrial gases.
“We believe the deal will allow Volzhsky Azot to reach a new level of business development,” said Dmitry Sokov, Chief Executive Officer of SIBUR- Russian Tyres. “And we are happy to partner with the leading industry player.”