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Chemical Week Magazine :: Business & Finance :: United States/Americas

Praxair Forms Packaged Gas JV in Southeast, Adds ASU

8:00 AM MDT | August 17, 2012 | —Robert Westervelt

Panikar: JV benefits new areas of companies' growth. Praxair has announced plans to place its packaged gases operations in southeast U.S. into a $150-million/year 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, nexAir says. The jv will retain the nexAir name. The companies did not disclose the size of each stake or Praxair’s cash...

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