Praxair Acquires Dominion Technology

Industrial gas maker Praxairannounced today that it has acquired Dominion Technology Gases Investment, an offshore oil and gas industry gas provider, for an undisclosed sum.

Established in 1988 and based in Aberdeen, Scotland, Dominion supplies diving, welding, industrial, laboratory, and calibration gases and associated equipment to the offshore energy industry. With 80 employees, it is expected to generate revenues of $55 million in 2013.

Noting that the acquisition significantly expands its oil and gas related capabilities, Praxair VP for Helium and Oil and Gas Services Scott Kaltrider said: "With significant growth forecasted in offshore oil and gas exploration and production, we look forward to building on this outstanding service platform and significantly expanding growth through Praxair's global footprint."

Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2012 sales of $11 billion.

The article Praxair Acquires Dominion Technology originally appeared on

Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story