DANBURY, Conn.--(BUSINESS WIRE)--Praxair Distribution, Inc. (PDI), a subsidiary of Praxair, Inc. (NYSE: PX), announced its two joint venture companies operating in the southeastern U.S. have merged. Financial terms of the transaction were not disclosed.
The transaction involves merging Praxair Distribution Southeast, LLC (PDSE), a PDI joint venture operating in Florida and southeast Georgia since 1997, into Memphis, Tennessee-based nexAir, LLC (nexAir), a 75-year old company which entered into a joint venture with PDI in 2012, with locations in Alabama, Arkansas, Georgia, Louisiana, Mississippi and Tennessee. nexAir will grow to have annual sales of more than $200 million and 67 locations with the merger, adding coverage throughout the state of Florida. Its existing senior management team will continue to lead the combined business.
“Both the PDSE and nexAir businesses have been very successful partnerships for PDI in the southeast and it makes sense to now combine them. It will allow us to streamline and simplify our management processes and improve customer focus and clarity around PDI’s channel strategy. Together we will provide a stronger network of services and capabilities throughout the region,” said Scott Kaltrider, president Praxair Distribution, Inc.
Praxair, Inc., a Fortune 250 company with 2014 sales of $12.3 billion, is the largest industrial gases company in North and South America and one of the largest worldwide. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others. More information about Praxair, Inc. is available at www.praxair.com.