Messer Griesheim (China) Investment Company has signed a cooperation agreement with Panzhihua New Steel and Vanadium Company, a subsidiary of the Panzhihua Iron and Steel Group.
According to the agreement, Messer and PNSVC will set up a joint venture with the name of Sichuan Pangang Messer Gas Products Company and Messer China will hold 60% of the equity of the new company which will have about 500 employees.
It is said that the new company will be engaged in air separation installations to meet PNSVC's demand for oxygen, nitrogen and argon as well as serving as a base for Panzhihua Iron and Steel Group to to achieve more extensive cooperation deals.
A listed company, PNSVC is the largest railway-use steel production base in China and the third largest vanadium production base in the world.
Based in Shanghai, Messer China is a leading industrial liquid gas supplier which has had a total of five solely-owned companies and five joint ventures in China with a total investment of USD350 million and about 1,200 employees. This is the second time that Messer has partnered with Panzhihua Iron and Steel Group.