SHANGHAI, May 30th 2007 — Praxair (China) Investment Co., Ltd has started up a new 400-tons-per-day air separation plant for LianZhong (GZ) Stainless Steel Corp (LianZhong) in Guangzhou, South China. LianZhong will produce 800,000 tons per year of stainless steel to meet the growing demands of the Chinese market.
[<BR>]The new Praxair plant, located in Guangzhou Economic and Technology Development Zone, will supply high volumes of high purity oxygen, nitrogen and argon to LianZhong via pipeline. The facility will also provide a supply of merchant liquid products to other customers in the region.
With five other large air separation plants already in operation in Shaoguan and Huizhou, this sixth air separation plant pushes Praxair's total investment in Guangdong Province to over $100 million. Praxair further strengthens its position as the largest industrial gases supplier in the region with unparalleled resources for reliable supply of industrial gases.
The supply to LianZhong also expands Praxair's customer portfolio. It is the first supply to the stainless steel sector and the 26th large-scale project Praxair has built in China. Praxair is committed to serving China's fast growing economy as its developing infrastructure demands increased production from basic materials to electronics components.
Commenting on the new plant, David Chow, Praxair China president, said, "We have quickly and successfully grown our business in southern China by delivering fully integrated products and services to our customers. The new plant broadens our already diversified customer base and positions us for even further growth in the region. This is a testimony to the capabilities of Praxair and a practical demonstration of what we can achieve with the support of our customers and local authorities."
The new plant is a continuation of a series of new investments in China by Praxair. Other recent announcements of a 3,000-tons-per-day plant for a gasification process and a new facility for a semiconductor fab in Shanghai are some of the projects in Praxair's current investment pipeline.
About LianZhong (Guangzhou) Stainless Steel Corporation
Invested by Taiwan-based Yieh United Steel Corp, Lianzhong (Guangzhou) Stainless Steel Corporation (LISCO) is a large scale, modern integrated stainless steel production enterprise approved by the State Council. Designed with the world’s most advanced cutting edge technology, LISCO will be the first and best-integrated stainless steel manufacturer in Southern China. The plant will have a melting shop, continuous slab caster, hot strip mill and cold rolling mill. The LISCO Project meets the strong demand of economic growth in the area and will keep clean production methods to protect the environment. Its design has been granted as one of the Key Engineering Projects of Guangdong Province in 2005 and also been listed as an Encouraging Projects of State.
About Yieh United Steel Corporation (YUSCO)
Yieh United Steel Corporation (YUSCO) was founded in December 1988. With total investments exceeding 40 billion New Taiwan dollars (US $1.2 billion), YUSCO is the largest integrated stainless steel mill in Southeast Asia and the world's seventh largest stainless steel producer. The company is based in Kaohsiung County, Southern Taiwan.
About Praxair China
Praxair China, a subsidiary of Praxair, Inc., is a leading global industrial gases supplier in China, serving a diverse group of industries through the production, sale, distribution and value-added application of industrial gases. With over 1,000 employees across the country, Praxair China, headquartered in Shanghai, operates 13 wholly owned companies and 11 joint ventures. More information on Praxair China is available on the Internet at www.praxair.com.cn.
With 27,000 employees and operations in more than 30 countries, Praxair, Inc. (NYSE:PX) is a global Fortune 500 company. Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2006 sales of $8.3 billion. The company produces, sells and distributes atmospheric and process gases and high performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the internet at www.praxair.com.
Susan Szita Gore