Yara and Praxair to Establish Gases JV

Praxair and Yara have agreed to form a 50-50 industrial gases joint venture, which will start up in the third quarter. The jv will be headquartered in Oslo, and will operate in Norway and Denmark. It will comprise Yara’s existing industrial gases business, which has sales of NK950 million ($157 million). The deal will result in a one-time net income of NK700 million for Yara, the company says. The deal will develop the company’s business in northern Europe, particularly in enhanced oil recovery projects for certain North Sea oilfields, Praxair...

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