Jul 29 2010
Air Liquide announces the acquisition of Cryogas de Centroamerica, S.A. (Cryogas), a leading supplier of medical and industrial gases in the country of Panama. Cryogas is based in Panama City and employs more than 80 people in a number of locations throughout the country.
The agreement to purchase Cryogas’ business operations and assets, which include its Air Separation Unit, filling, distribution and retail sales activities, marks Air Liquide’s entry into Panama, further establishing its presence in the region.
Panama is one of the fastest developing countries in Central America and offers good infrastructure and geographic proximity, a stable business environment and strong growth prospects.
Michael J. Graff, President and CEO, American Air Liquide Holdings, Inc. and a member of Air Liquide’s Executive Committee, commented: "Emerging economies are a growth driver of Air Liquide, and the acquisition of Cryogas de Centroamerica and our entry into Panama will enhance our growth in the region and throughout the Americas. Air Liquide’s innovative product offerings as well as demand from critical infrastructure projects such as the Panama Canal expansion should help further drive our business opportunity throughout Latin America.” Graff continued: “We welcome our newest employees to Air Liquide and the opportunity to develop a key presence in Panama.”
Source: http://www.airliquide.com/