Danbury industrial-gas supplier Praxair Inc. is teaming with a Tennessee regional welding-gas supplier to expand Praxair’s presence supplying product in the southeastern U.S.
Its Praxair Distribution Inc. unit will put eight branches of its package-gas distribution business in Georgia, Alabama and Tennessee into its joint venture with Memphis’ nexAir, a longtime Praxair customer.
Praxair also says it will take an undisclosed equity stake in nexAir, owned by CEO Kevin McEniry and his family.
The venture is projected to yield annual sales of approximately $150 million.
Praxair Distribution President John Panikar said joining with nexAir hastens Praxair’s goal to speed its presence in the Southeast welding-gas market.
Praxair generates some $10 billion in annual sales making and supplying industrial and atmospheric gases worldwide.
