Message #28 From:
Stock News Bot Date: January 23, 2007 10:00:00 AM
PX News Praxair Announces Major Contract with Jiangsu Sopo for Industrial Gases Supply
SHANGHAI, China--(BUSINESS WIRE)--Praxair China, a subsidiary of Praxair, Inc. (NYSE: PX) announced today
that it has signed a major contract with Jiangsu SOPO (Group) Co., Ltd,
for the supply of industrial gases to SOPO’s
acetic acid plant.
Praxair will design, build, operate, and own a state-of-the-art, large
air separation unit (ASU) which is due to come on stream in 2009. The
ASU will have a capacity of 3,000 tons of oxygen per day. It will be the
largest single plant for sale of gas and also the largest single-train
ASU to be built in Asia.
The plant will be integrated with a state-of-the-art, low-cost
coal-gasification process for SOPO’s acetic
acid plant.
In addition to the oxygen produced by the plant, Praxair will also
supply liquid oxygen, nitrogen and argon to the rapidly growing market
in East China.
Jiangsu SOPO (Group) Co., Ltd, the largest acetic acid producer in China
with a 30% market share, is located in Zhenjiang in Jiangsu Province
northwest of Shanghai, one of the fastest growing industrial regions in
the world. SOPO is focused on improving the cost competitiveness of its
feedstocks for acetic acid production. Acetic acid is widely used in the
production of adhesives, textiles, paint, paper, polyester fiber and
plastic bottles.
“After a thorough evaluation of potential
suppliers, SOPO chose Praxair to supply industrial gases for our
project. We are confident in Praxair’s
capability as a world-class supplier to build large plants and in its
commitment to high-quality products and service,”
said Song Qinhua, president and general manager of Jiangsu SOPO (Group)
Co., Ltd. “We are deeply impressed with Praxair’s
professionalism, expertise and company management and look forward to
working with Praxair.”
“SOPO has developed rapidly in recent years
under its new management team to become one of the largest chemical
enterprises in China and we are pleased to be their supplier,”
said David Chow, president, Praxair China. “This
is our single largest investment in China to date and will become our
flagship site. It demonstrates our confidence in China and expands our
leadership position as a gas supplier. More important, integrating
oxygen into a coal gasification process allows Praxair to share our
technology in advanced control systems and systems integration.”
About Praxair China
Praxair China, a subsidiary of Praxair Inc., is a leading global
industrial gases supplier in China, serving a diverse group of
industries through the production, sale, distribution and application of
industrial gases. With over 1000 employees, Praxair China is
headquartered in Shanghai and operates 13 wholly owned companies and 11
joint ventures. More information on Praxair China is available on the
Internet at www.praxair.com.cn
About Praxair
With 28,000 employees and operations in more than 30 countries, Praxair,
Inc. is a global Fortune 300 company. Praxair is the largest industrial
gases company in North and South America, and one of the largest
worldwide, with 2005 sales of $7.7 billion. The company supplies
atmospheric, process and specialty gases, high-performance coatings and
related services and technologies. Praxair products, services and
technologies bring productivity and environmental benefits to a wide
range of industries: food and beverages, healthcare, semiconductors,
chemicals, refining, primary metals and metal fabrication, as well as
other areas of general industry. More information on Praxair is
available on the Internet at www.praxair.com
About Jiangsu SOPO
Jiangsu SOPO (Group) Co., Ltd was founded in 1958. With more than 4,200
employees, SOPO has developed into a large scale enterprise focusing on
chemicals while actively involved in biochemical and material chemical
fields. SOPO has total assets of RMB 3.4 billion (US$450 million) and
2006 sales of RMB 3.73 billion (US$479 million). It is listed as one of
the 100 top petrochemical enterprises in China. More information is
available on the internet at www.sopo.com.cn/en
