Malaysian industrial gas company MOX, now a wholly-owned unit of German gases group Linde, has announced recently it is to invest $77.16m (250m ringgit) to raise production capacity over the next two years.
The latest move came six months after the company invested 100 million ringgit to build two new plants in Malaysia, with the new plants scheduled to be completed by early 2009, MOX said in a statement.
MOX, Malaysia’s largest industrial gas group, was taken private by Linde last August in a deal worth around $392m. The deal saw Linde pay Air Liquide SA for the remaining half of a company they had jointly owned, which itself held 45% of the Malaysian outfit.
The purchase came after the European Commission required Linde and rival Air Liquide to terminate joint ventures following Linde’s takeover of the BOC Group Plc.