Air Liquide Acquires Cryogas de Centroamerica S.A. in Panama
Air Liquide announces the acquisition of Cryogas de Centroamerica, S.A.
(Cryogas), a leading supplier of medical and industrial gases in the country of
Panama. Cryogas is based in Panama City and employs more than 80 people in a
number of locations throughout the country.
The agreement to purchase Cryogas' business operations and assets, which include
its Air Separation Unit, filling, distribution and retail sales activities, marks
Air Liquide's entry into Panama, further establishing its presence in the region.
Panama is one of the fastest developing countries in Central America and offers
good infrastructure and geographic proximity, a stable business environment and
strong growth prospects.
Michael J. Graff, President and CEO, American Air Liquide Holdings, Inc. and a
member of Air Liquide's Executive Committee, commented: "Emerging economies
are a growth driver of Air Liquide, and the acquisition of Cryogas de
Centroamerica and our entry into Panama will enhance our growth in the
region and throughout the Americas. Air Liquide's innovative product
offerings as well as demand from critical infrastructure projects such as the
Panama Canal expansion should help further drive our business opportunity
throughout Latin America." Graff continued; "We welcome our newest
employees to Air Liquide and the opportunity to develop a key presence in
Panama."
