Praxair recently announced that it has completed the acquisition of certain industrial gas assets and related businesses in Germany from Air Liquide (AL) for 497 million euros or about $650 million.
The acquisition agreement was first announced on October 7, 2004 and has since been approved by the European and German regulatory authorities.
Included in the deal were certain assets required to be sold by AL as a result of its purchase of Messer in Germany.
The acquired business is comprised of the southern portion of the Rhine/Ruhr pipeline and the Saar pipeline, plus bulk distribution and packaged gas businesses.
Praxair expect to increases their total annual sales in Europe to about $1 billion because of new locations.
