On June 14, Air Water unveiled that it would acquire Praxair’s industrial gas business in West India including the Jharkhand air separation gas on-site business for Tata Steel located at Jamshedpur and the tank truck and cylinder business.

The size of business is estimated to be valued at about JPY7.9 billion, 80% of which is an on-site supply business including three ASU plants for gas piping to steel plants. Also filling stations are being developed in Palbangla and Asansol, West Bengal.

　In line with the business integration of Praxair and Linde, it had been taken up for discussion as a split sale plan. Air Water offered bidding for the tender. The acquisition bid amounts to JPY23.8 billion, to be financed by Air Water by means of underwriting of capital increase by Air Water India, local subsidiary of Air Water.

　The acquired business will be succeeded by Air Water India with 60 employees. After signing of the agreement on June 14, the capital increase will be implemented on July 10 for the scheduled transfer on July 12.

　Air Water intends to expand its on-site supply business to steelmakers who are expected to enlarge their production scale in India, and also aims to utilize a synergy effect in the transportation and safety control services with Ellenbarrie Industrial Gases of local industrial gas company which Air Water acquired in Kolkata of East India in 2013.