On June 4, Taiyo Nippon Sanso announced that it had obtained ownership of Air Products Industry (API), which is based in Bangkok, Thailand. Amount of investment was not revealed.

API is the industrial gas company producing and selling bulk gases such as liquid oxygen and nitrogen as core business. Taiyo Nippon Sanso has been cultivating cordial relationship with API by putting capital in it since 1980’s. In 2003 Taiyo Nippon Sanso increased its capital ratio in API to 32%. API owns total 3 liquid gas plants each of which is located in Lamphun (with a capacity of 2,300 m3/h for LO and LIN), Bang Pa-In (capacity of 12,0000 m3/h for LO and LIN), and Amata Nakorm Industrial Estate (capacity of 10,000 m3/h for LO and LIN), and the company accounting less 30% of total production capacity for liquid gas in Thailand. The revenue for FY2014 ending on December 31, 2014 came to around 4.2 billion.

Taiyo Nippon Sanso has been owning and operating a local subsidiary TNSC (Thailand) as a joint venture with consulting company MHCB Consulting. Jointly with the TNSC (Thailand), Taiyo Nippon Sanso obtained a stock of API. As a result, Taiyo Nippon Sanso Group came to hold 97% of the capital of API with Taiyo Nippon Sanso putting up 49%, TNSC (Thailand) 48%, and individual investors 3%.

Taiyo Nippon Sanso will expand its business into industrial gas related equipment and off-gas in addition to liquid gas business through API, and expect synergy effect with affiliate companies in surrounding countries in Asia such as Singapore.