Messer Acquires Praxair’s French Arm, Sells Italian Unit
Privately owned German industrial gases producer Messer acquired 100% of U.S. rival Praxair's French subsidiary Praxair S.A.S from Praxair Euroholding, Spain, effective Mar. 12, and in a concurrent transaction sold its Italian subsidiary Messer Italia, to Rivoira, a company in which Praxair is the major shareholder.
The asset swap will enable Messer to further expand its strong competitive position on the French market for industrial and medical gases, said Stefan Messer, owner and CEO.
Messer said the newly acquired activities will be integrated quickly into the company's existing business in order to achieve the planned increases in efficiency as soon as possible. Synergies are expected from economies of scale in gas production and distribution sectors as well as in administration.
Fixed assets of the former Praxair business include two air separation plants, three gas cylinder filling plants and gas distribution equipment such as tankers, customer tanks and steel cylinders.
"The production plants and production locations complement our existing structures ideally," said Nicolas Denis, general manager of Messer France, adding that the new locations and product range acquired will further enhance and expand supply to customers in France.