Keen to build on the significant growth expected in the offshore oil and gas industry in the future, Praxair Offshore Services Limited has acquired Scotland-based Dominion Technology Gases Investment Limited (Dominion).
Dominion is a leading global supplier of diving, welding, industrial, laboratory and calibration gases and associated equipment to the offshore oil and gas industry – and a distributor of Praxair gases.
The company serves the growing global offshore oil and gas exploration and production markets from its locations centered among several key offshore facilities. Its acquisition uniquely positions Praxair to provide industry-leading products and services to an expanded base of high-value customers in the global offshore oil and gas market.
“The addition of Dominion significantly expands Praxair’s oil and gas related capabilities to key global customers in the offshore energy segment,” reflected Scott Kaltrider, vice-president, helium and oil and gas services for Praxair.
“The Dominion team has built a premier, service-oriented business with 25 years of recognized commitment to superior customer service. With significant growth forecasted in offshore oil and gas exploration and production, we look forward to building on this outstanding service platform and significantly expanding growth through Praxair’s global footprint.”
Russel Davies, group managing director of Dominion, also added, “The combination of the Dominion offshore services model and Praxair’s industrial gas infrastructure, and oil and gas expertise will enable an unparalleled level of service to our customers globally. Additionally, the opportunity for our employees to join a world-class organization like Praxair is exciting for the Dominion team as well.”
Dominion is expected to generate full-year sales in 2013 of approximately $55 million.