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Air Products acquires South American Leader Indura

Air Products to purchase 67% of Indura for $884 million

Headquartered in Santiago, Chile, Indura S.A. is the largest independent industrial gas company in South America.

In buying 67% majority stake in Indura, Air Products gets access to twelve countries within the second most dynamic region in term of GDP, just after the leading Asia.

The purchase of Indura is expected to be close in July, subject to conditions, and Air Products said it would contribute to earnings in fiscal year 2013.

In addition to the economical aspects, these Latin countries will provide Air Products with a large reservoir of talented resources having a solid experience in heavy duty industry, such as oil & gas and petrochemicals, and ready to operate.

This acquisition is happening at the same moment as Indura is considering investing $45 million capital expenditure in Canadian methanol company Methanex’s brownfield project of $200 million expansion of its methanol plant in southern Chile.

Methanex is planning to add a third production train to its methanol plant at Cabo Negro in Chile’s Region XII, but although Chile‘s environment authority Conama approved the project in , the final investment decision to go ahead is on hold until November.

In integrating Indura SA, Air Products becomes the second largest industrial gas producer in Latin America

In South America, Indura is a very well known and respected brand that represents a quality business, strong leadership and dedicated employees.

Indura is controlled by Inversiones y Desarrollo SA, or Invesa, the holding company for the Briones family.

From Invesa perspective, joining the Air Products will position Indura to benefit from the technologies, experience and best practices at global scale in the industrial gases industry.

While Air Products expects to leverage Indura’s market knowledge and long-term relationships in Latin America.

Invesa, as the holding company of the Briones family and the controlling shareholder of Indura and will be an important partner to Air Products in this $884 million capital expenditure

Indura in brief

Founded in 1948 in Santiago, Chile, Indura is the largest independent industrial gases company in South America, with $478 million in annual revenues.

Indura developed and integrated gas and retail business includes liquid gas, small on-sites and packaged gases.

Indura operates in Argentina, Chile, Colombia, Ecuador, Mexico and Peru and has a distribution network in Central America, Bolivia, Canada, USA and Uruguay.

Indura employs more than 2300 people over 20 production plants, over 40 filling sites and more than 100 retail outlets.

Air Products in brief

Hone based in Pennsylvania, USA, Air Products provides atmospheric, process and specialty gases; performance materials; equipment; and technology.

For over 70 years, the company has enabled customers to become more productive, energy efficient and sustainable.

Air Products main regional offices are located in Hong Kong, Singapore, The Netherlands, and UK,

 Air Products already has existing interests in Latin America, through its wholly-owned businesses in Argentina, Brazil and its joint venture, Grupo Infra, headquartered in Mexico.

More than 18,000 employees in over 40 countries supply innovative solutions to the energy, environment and emerging markets.

These include semiconductor materials, refinery hydrogen, coal gasification, natural gas liquefaction, and advanced coatings and adhesives.

In fiscal 2011, Air Products had sales of approximately $10 billion

 By leveraging Indura’s local coverage and Air Products’ global expertise, Air products expects to consolidate its Market Leadership in South America, one of the world’s most promising markets.

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

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