Linde acquires Turkish Industrial Gases company Karbogaz
The technology group Linde has acquired the Turkey based industrial gases producer Karbogaz A.S. Karbogaz, formed in 1984, is a joint venture company between Ismail Aytemiz of Istanbul and U.S. industrial gases producer Praxair, Inc., Danbury, CT. Specific terms of the transaction were not disclosed, but it is subject to the approval of the Turkish competition authorities.
"With the acquisition of Karbogaz, we are strengthening our position in a growing region and complementing our European leadership", said Dr. Aldo Belloni, member of the Executive Board of Linde AG and responsible for the business segment Gas and Engineering. "Karbogaz is one of the most important industrial gases suppliers in Turkey, and the regional market leader in the thriving carbon dioxide (C02) segment."
In fiscal year 2005, Istanbul-based Karbogaz A.S. generated sales of approximately 27 million Euros, and currently employs a staff of around 230.
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