Linde Acquires Singapore Syngas Plant From ChevronTexaco
Linde AG and ChevronTexaco Worldwide gasification Technology Inc., a subsidiary of ChevronTexaco Corp., announced the sale of Singapore Syngas Private Limited, a ChevronTexaco company, to Linde AG, a move that will significantly strengthen Linde's position in Southeast Asia. Financial details of the agreement were not disclosed.
Singapore Syngas operates one of the world's largest gasification plants for generating hydrogen and carbon monoxide, as well as a high performance air separation unit.
"This investment is a component of our growth strategy in the Asian market and it will also strengthen our overall international gas business," according to Dr. Wolfgang Reitzle, President and CEO of Linde AG. "This plant will make us a one-stop supplier in a dynamically growing region. This way, we will be able to supply our customers in Singapore, Malaysia, Thailand, and Indonesia with a full range of industrial gases, including bulk products, hydrogen, carbon monoxide, and carbon dioxide."
The plant is located on Jurong Island, one of the largest integrated petrochemical complexes in Southeast Asia. The plant has several long-term delivery contracts that will remain in effect under the new owners. This includes, for example, obligations to supply neighboring plants of Celanese AG with carbon monoxide. As part of the purchase of the plant, Linde is taking on 88 employees.
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