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Information Paris, June 28, 2004 Press Release Air Liquide signs important contract with ZPSS, a POSCO JV and one of the top steel producers in China
ZPSS is a joint venture 82.5% owned by POSCO* (Pohang Iron and Steel Co., Ltd, Korea, one of the world's leading steel producers) and 17.5% by SHAGANG (Shagang Group, Jiangsu, China, a key steel producer in this country). ZPSS is already the biggest producer of cold-rolled stainless steel in China. In order to meet the requirements of this new stainless steel plant, Air Liquide will build, own and operate a new air separation unit (ASU) next to the ZPSS site and supply oxygen, nitrogen and argon by pipeline to ZPSS. This ASU will also have extra production capacity in both liquid and gaseous form to supply other local customers. Air Liquide will establish a subsidiary in Zhangjiagang to provide direct service to ZPSS and to other customers. Mr. CHUNG Keel Sou, President of ZPSS, declared: "The iron and steel industry in China is a promising market and represents a key opportunity for Posco*'s development. We have selected Air Liquide because they have been a reliable partner since 1999 when we started working together. They have always provided us with competitive tailored solutions that match our expansion". Mr. Colin KENNEDY, Senior Vice-President Asia/Pacific Zone and member of the Air Liquide Executive Commitee, made the following statement "This new long-term contract is a major step for Air Liquide's business development in the great Shanghai area as well as in China's steel industry. It further strengthens our relationship with POSCO* and provides vast opportunities for Air Liquide to expand its pipeline and liquid gas supply business in a region that enjoys the highest GDP growth in China". *Founded in 1968, POSCO has flourished over the years to become one of the world's top 5 steel producers (29 M.Tons) with sales of 14539 Billions KRW in 2003. In Korea, Air Liquide has supplied POSCO with 13 turnkey facilities at Gwangyang and Pohang. ****************** Present in 65 countries, Air Liquide is the qorld leader in industrial and medical gases and related services. The Group offers innovative solutions based on constantly enhanced technologies. These solutions, which are in line with Air Liquide's commitment to sustainable development, help to protect life and enable our customers to manufacture meny indispensable everyday products. Founded in 1902, Air Liquide has more than 31,900 employees. The Group has successfully developed a long-term relationship with its shareholders built on confidence and transparency and guided by the principles of corporate governance. Sales in 2003 totaled 8,394 million euros, of which sales outside France accounted almost 80%. Ait Liquide is listed on the Euronext Paris stock exchange and is a component of the CAC 40 and EuroStoxx 50 indexes (ISIN code FR 0000120073). For further information, please contact:
www.airliquide.gr |
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