Chinese steel company selects Linde to meet its entire gas supply needs
(Thomson Reuters ONE) -
Linde AG /
Chinese steel company selects Linde to meet its entire gas supply needs
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* Contract covers purchase of existing air separation units and construction
of an additional unit
* Total investment worth around EUR 120 million
* Deal strengthens Linde's position in China
Munich, 29 November 2011 - The technology group The Linde Group has been
selected to manage the entire gas supply system for steel company Hebei Puyang
Iron and Steel Ltd. in Wu'an (Hebei province in the North China region). Linde
will be investing around EUR 120 million in the project. An agreement outlining
the terms of the deal was recently signed by both parties.
"We are delighted to be embarking on a long-term business relationship with
Hebei Puyang Iron and Steel," says Sanjiv Lamba, Member of the Executive Board
of Linde AG responsible for Asia. "This move also strengthens our position as a
leading gases and engineering company in the dynamic Chinese market."
Under the terms of this on-site agreement, Linde acquires the steelworks' seven
existing air separation units (ASUs) and pipeline network, will operate these
and modernise them to incorporate the latest technical developments. In
addition, Linde's Engineering Division will build a new ASU on site with a
production capacity of 30,000 normal cubic metres of oxygen per hour. Scheduled
to go on stream in 2014, the new ASU will partially replace older, less energy
efficient plants, also meeting rising demand for gaseous oxygen at the
steelworks. The new arrangement gives Puyang Iron and Steel a much greater
degree of reliability in its gas supply. The new ASU will also produce surplus
liquid gases for the regional market.
Hebei Puyang Iron and Steel is a privately owned company that produces around
six million tonnes of steel every year in Wu'an. This is used to create plate,
hot rolled coil, strip, tube and wire rod for industries such as construction,
shipbuilding and manufacturing.
The Linde Group is a world-leading gases and engineering company with around
50,000 employees working in more than 100 countries worldwide. In the 2010
financial year, it achieved sales of 12.868 billion euro. The strategy of The
Linde Group is geared towards sustainable earnings-based growth and focuses on
the expansion of its international business with forward-looking products and
services. Linde acts responsibly towards its shareholders, business partners,
employees, society and the environment - in every one of its business areas,
regions and locations across the globe. Linde is committed to technologies and
products that unite the goals of customer value and sustainable development.
In Greater China, Linde has close to 4,000 employees working in around 50
subsidiaries and joint ventures, and 150 operational plants in major industrial
hubs across the region. Linde Greater China is headquartered in Shanghai.
For more information, see The Linde Group online at http://www.linde.com
Further information:
Media Investor Relations
Uwe Wolfinger Dr Dominik Heger
Telephone: +49.89.35757-1320 Telephone: +49.89.35757-1334
Dr Thomas Hagn Lisa Tilmann
Telephone: +49.89.35757-1323 Telephone: +49.89.35757-1328
--- End of Message ---
Linde AG
Klosterhofstrasse 1 Munich Germany
WKN: 648300;ISIN: DE0006483001;Index:Prime All Share,HDAX,DAX,CDAX;
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Regulierter Markt in Börse Düsseldorf;
Press Release as PDF:
http://hugin.info/125064/R/1567262/486835.pdf
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other applicable laws; and
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originality of the information contained therein.
Source: Linde AG via Thomson Reuters ONE
[HUG#1567262]
Unternehmensinformation / Kurzprofil:
Datum: 29.11.2011 - 09:43 Uhr
Sprache: Deutsch
News-ID 91772
Anzahl Zeichen: 5035
contact information:
Town:
Munich
Kategorie:
Business News
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