Praxair, Inc. said Thursday it has purchased Tcnogas, a local producer and distributor of carbon dioxide and industrial gases in Peru.
Tecnogas was founded approximately 50 years ago and has annual revenue of approximately $10 million. It operates three carbon dioxide production plants that Praxair said it will use to supply Peru’s demand for the gas.
“The acquisition of Tecnogas is consistent with our business strategy to build production and distribution density in South America,” Praxair South America President Domingos Bulus said. “We look forward to serving our new customers with the same high level of dedication, reliability and quality that they have come to expect over the past 50 years.”
Tecnogas serves markets that include health care, metal fabrication and the food and beverage industry.
“Praxair and Tecnogas share a commitment to delivering the best solutions and operational excellence to our customers,” Tecnogas Chairman Alberto Choy said. “We are pleased that Praxair will continue the legacy of what we have built at Tecnogas, bringing its worldwide expertise in the industrial gases market to our local operations and customers.”
Financial details of the transaction were not disclosed.
