Dec 03, 2007
The European Commission has cleared Praxair's acquisition of a 50% stake in Yara's industrial gases business. The final agreement for the 50/50 joint venture was completed on 30 November 2007.
As stated in the press release of 16 May 2007, the intention of the JV is to jointly develop growth opportunities in the industrial gases sector in Scandinavia.
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
Hamed Brodersen, Media Relations
Cellular (+47) 40 468 110
Yara International ASA is a leading chemical company that converts energy and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers and agronomic solutions, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that safeguard air and water purity and preserve food quality. Yara's global workforce of 7,000 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry.
Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2006 sales of USD 8.3 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others.