According to reports in Media, Praxair finally announced about execution of an agreement to acquire Houston based Texas Welders Supply Company (TWSCO). As no financial details are disclosed now, but it is expected to close the entire transactions before current year only.
TWSCO is known as a long-time distributor of Praxair, operates from four different locations in the country. TWSCO has a state-of-the-art cylinder filling plant and specialty gas laboratory located at Houston.Praxair is well settled business group of US from Industrial Gases business, having vast presence across the globe. Praxair has too supporting market business of Packages Gases in US.
“The Chenoweths have a multi-generational history of building successful industrial gas distributorships in Houston,” said John Panikar, president of PDI. “TWSCO represents the culmination of their efforts and is one of the top 15 independent distributors in the country. It has a world class facility and talented people to support growth. We are excited to have the TWSCO employees join the Praxair team and look forward to serving our new customers.” “Praxair is the best operational and strategic fit for us,” said TWSCO President Scott Chenoweth, one of the three majority shareholders. “Our dedicated employees have delivered quality products and services with complete confidence and customer satisfaction, and combining our business with Praxair will continue to benefit our customers and employees.”
News Courtesy: Market Watch, Image Courtesy: greenphotonicsguide.com