Praxair nexAir form joint venture in US

Praxair and nexAir form a joint venture in US

5:19 AM, 8th August 2012
Praxair and nexAir form a joint venture in US
John Panikar, President, Praxair Distribution Inc.

DANBURY/MEMPHIS, US: Praxair Inc and Memphis-based nexAir LLC have planned to form a joint venture in the Southeast United States. Praxair will contribute 8 branches of its packaged gas distribution business in Georgia, Alabama and Tennessee and acquire an equity stake in the combined business, which will have sales of approximately $150 million.

“Praxair is making major investments in Memphis and the broader southeast region. This joint venture with nexAir will allow both companies to expand into new areas that will benefit from our combined capabilities. Together we will have a stronger support network and broader set of services for customers in the region,” said John Panikar, President, Praxair Distribution Inc.

“We are confident of this partnership and expansion to provide future opportunities for all involved. nexAir’s primary goal has always been to offer opportunities for our people by increasing our ability to compete and grow profitably, and we believe this formal partnership aligns perfectly with that goal,” said Kevin McEniry, nexAir CEO.

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