Corporate News
Munich, 27 October 2010 - The technology group The Linde Group has won a deal to build two industrial-scale air separation units for the steel corporation Taiyuan Iron & Steel Company Limited (TISCO) at its Taiyuan site in the northern province of Shanxi in China. The contract, recently closed by both parties, places a total investment figure of around EUR 100 million on the project. The project will be managed by the 50/50 gases joint venture set up by Linde and TISCO, BOC-TISCO Gases.
"This investment builds on the successful collaboration already established between both companies in air separation," said Dr Aldo Belloni, Member of the Executive Board of Linde AG. "Since the BOC-TISCO Gases joint venture was founded in 1996, we have been jointly meeting the entire gas needs of the Taiyuan site. We are of course delighted to add two new state-of-the-art air separation units to the existing infrastructure. This new on-site deal not only underscores our leading position in the Chinese gases market, it also provides proof of concept for our focused growth strategy in emerging markets."
Linde's Engineering Division will construct the two new air separation units (ASUs) for BOC-TISCO Gases. With an hourly capacity of 60,000 normal cubic metres (Nm3/h) of gaseous oxygen per plant, they rank among the largest and most modern ASUs in China. The new air separators will thus supply the steelworks with a more energy-efficient flow of gaseous oxygen. Over the coming years, the new units will double oxygen capacity from around 110,000 Nm3/h today to a new total of 220,000 Nm3/h.
TISCO operates one of the world's largest integrated industrial complexes in Taiyuan. This latest investment to evolve the gas supply facilities falls under the umbrella of TISCO's multifaceted modernisation strategy aimed at improving the energy efficiency of its production plants. The company wants to balance future growth with energy conservation and an improved CO2 balance.
In addition to building the new ASUs, Linde will also be delivering various oxyfuel-enabled gas applications for different furnace processes. With oxyfuel, combustion air in the furnace is replaced with oxygen-enriched air or pure oxygen. This increases furnace throughput, also cutting fuel consumption and emissions.
TISCO is one of the world's largest stainless steel producers. The company supplies its products to 30 different regions and countries. During the first half of 2010, TISCO produced around five million tonnes of steel at Taiyuan. Around 1.4 million tonnes of this was stainless steel, making Taiyuan the world's largest single production site for stainless steel.
The Linde Group is a world leading gases and engineering company with almost 48,000 employees working in more than 100 countries worldwide. In the 2009 financial year it achieved sales of EUR 11.2 bn. 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.
In Greater China, Linde is headquartered in Shanghai and has around 50 wholly-owned companies and joint ventures, and more than 100 operational plants in major industrial hubs across the country, with around 3,000 employees.
For more information, see The Linde Group online at http://www.linde.com
For additional information:
| Press Uwe Wolfinger Telephone: +49.89.35757-1320 |
Investor Relations Thomas Eisenlohr Telephone: +49.89.35757-1330 |