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Linde AG (FRA:LIN) Munich, 29 October 2008 - The technology group The Linde Group has signed a further long-term on-site supply contract for industrial gases with the Hungarian chemical company BorsodChem Zrt. The agreement involves the construction of a new air separation unit (ASU) at BorsodChem's Kacinzbarcika site in north-eastern Hungary for around EUR 26 million.
"This agreement seals the long-term future of our relationship with one of our largest customers in Europe," said Dr Aldo Belloni, member of the Executive Board of Linde AG. "Moreover, this investment confirms our leading position in this key market in Eastern Europe."
The new air separation plant is due to come on stream in November 2010. It will supply BorsodChem in Kazincbarcika by pipeline with up to 7,000 cubic metres of gaseous oxygen and nitrogen per hour. The plant is also expected to produce liquefied oxygen, nitrogen and argon for the merchant market.
With this new investment, Linde operates two ASUs for the supply of air gases and three steam reformers for the supply of gaseous hydrogen and carbon monoxide to BorsodChem Zrt at Kazincbarcika. Linde's total investment at this site exceeds EUR 200 million.
The Linde Group is a world leading gases and engineering company with more than 50,000 employees working in around 100 countries worldwide. In the 2007 financial year it achieved sales of EUR 12.3 billion. The strategy of The Linde Group is geared towards sustainable earnings-based growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment - in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.
