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Linde plans to cut costs after Praxair merger -Spiegel

October 10, 2016
Chemical Value Chain

Linde, the world’s biggest industrial gases group by revenue, plans to cut costs and may and may close some sites abroad after failing to merge with U.S. rival Praxair, German weekly Spiegel reported.

The cuts will mainly affect the German company’s plant-engineering unit, which serves the oil and gas sectors and has suffered from low oil prices, Spiegel said on Friday.

Linde has sites in over 100 countries and will also look at closing some of these, the magazine added.

A Linde spokesman declined to comment.

Linde is working on how to present a vision of its future as a standalone company after the breakdown of talks with Praxair last month.

By Georgina Prodhan

Source: Reuters

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