Praxair, Inc., a leading global supplier of carbon dioxide (CO2) and other industrial gases, has completed its acquisition of Yara International ASA’s European CO2 business. Praxair also finalized the acquisition of Yara’s remaining 34% stake in the Yara Praxair Holding AS industrial gas joint venture.
In 2015, Yara’s European CO2 business provided liquid CO2 and dry ice primarily to the food and beverage industries, generating revenue of 112 million euros. The business operates CO2 liquefaction plants and dry ice production facilities across the UK, Ireland, Scandinavia, Germany, Benelux, France and Italy. The Yara Praxair Holding AS joint venture, operating in Scandinavia, was formed in 2007.
“These transactions are consistent with our business strategy to expand our presence in resilient end-markets such as food and beverage, as well as drive growth through synergistic acquisitions,” said Steve Angel, chairman and chief executive officer of Praxair.
The deal includes the 600kt Acetic Acid plant and all associated third party activities on the site. Eastman and INEOS have also entered into a Memorandum of Understanding to explore options for a long-term supply agreement for vinyl acetate monomer.
The Supervisory Board of Borealis has accepted the decision of Lucrèce Foufopoulos-De Ridder, EVP Polyolefins, Circular Economy Solutions and Innovation & Technology to step down from her executive position at Borealis, and the Board of Borouge Pte effective 31 December 2023 to pursue other career opportunities.
Sidel has launched a new 100% rPET bottle base, StarLiteR, aiming to help carbonated soft drink (CSD) packaging producers embrace material circularity. StarLiteR allows CDS producers to switch to rPET bottle production easily and efficiently, while significantly reducing the impact on product quality or packaging integrity.