Praxair Forms Mideast Joint Venture

Praxair says it has agreed to acquire a 49% stake in ROC Group's industrial gases businesses in the Mideast. Those assets, which will operate as a joint venture based in Kuwait City, have annual sales of about $80 million and operate in Kuwait, United Arab Emirates, and Qatar. "The ROC Group has strong market positions in the Gulf region," says Scott Telesz, senior v.p. of Praxair. "Praxair's operational expertise, onsite plant capabilities and technology offerings will contribute to a solid partnership in the region, a key strategic area of...

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