Praxair, Inc. and the Al Khaled family of Kuwait have entered into definitive agreements for Praxair to acquire 49% ownership interests in the ROC Group’s existing industrial gases businesses operating in Kuwait, United Arab Emirates (UAE) and Qatar.
The deal, which appears to afford Praxair a significant foothold in the blossoming industrial gases market in the Middle East, has been announced in the last few days.
Affirming this foothold, Scott Telesz, Senior Vice President for Praxair, Inc., commented, $quot;The ROC Group has strong market positions in the Gulf region. Praxair’s operational expertise, on-site plant capabilities and technology offerings will contribute to a solid partnership in the region, a key strategic area of economic expansion and industrialisation.”
The ROC Group has long been recognised as one of the leading independent producers and distributors of industrial gases in the Middle East with operations in 12 countries.
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