People & Business :: M&A
Praxair Forms Packaged Gases JV in Southeast with nexAir, Plans Fourth Memphis ASU
4:15 PM MDT | August 8, 2012 | Robert Westervelt
Praxair has announced plans to place its packaged gases operations in the southeast U.S. into a joint venture with nexAir (Memphis, TN). The jv will be majority owned by nexAir, which will contribute 26 locations in nine states. Praxair will contribute eight branches in Georgia, Alabama, and Tennessee, as well as cash in exchange for a minority equity stake in the jv, says nexAir. The jv will retain the nexAir name. The size of the each stake and Praxair's cash contribution is not being disclosed, the companies say. The combined jv will have sales...
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