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PrintIt is reported that Messer Griesheim Investment Co Ltd a big German family owned industrial gas company in Europe has lately signed a formal cooperation agreement with Panzhihua New Steel & Vanadium Co Ltd to establish a new gas-producing company with the investment of CNY 1.5 billion which will become the largest Sino foreign joint venture in Panzhihua, Sichuan province.
Messer Group, one of the 6 largest Industrial Gas Companies in the world, once co-established CMG Industrial Gas Co with Pangang earlier in 1996. So, this is the second cooperation with Pangang. As learned, Pangang and Messer began their talks in May, 2008, and finally signed a 40:60 JV agreement on February 5th 2009 with occupying CNY 0.2 billion and CNY 0.3 billion investments each party.
Otherwise, the JV Company will invest another CNY 1 billion to construct a set of gas-producing machines, which can produce 30,000 cubic meters per hour to 40,000 cubic meters per hour of oxygen.
(Source:Sichuan Daily)
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