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05-05-2009: Praxair, Inc. has announced that its wholly-owned subsidiary, Praxair (China) Investment Co., Ltd., has set up a joint venture in Guangzhou, southern China, with China Petroleum & Chemical Corporation (Sinopec).
The joint venture, Praxair-GPC Industrial Gases Co. Ltd., will produce, sell and distribute industrial gases such as oxygen, nitrogen, and argon for a wide range of industrial applications. It will also meet the demands of Sinopec Guangzhou Company for a quality, reliable nitrogen supply. The venture is expected to start operations in the 4th quarter of 2009.
“This first alliance with Sinopec is a major milestone for Praxair China,” said David Chow, President of Praxair China. “It is also a demonstration of our commitment to continued investment in the Chinese marketplace.”
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China Petroleum & Chemical Corporation (Sinopec)
China Petroleum & Chemical Corporation (hereinafter referred to as "Sinopec Corp.") is a listed company on domestic and international stock exchanges with integrated upstream, midstream and downstream operations, strong oil & petrochemical core businesses and a complete marketing network. more
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