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AIR WATER INC. PICKS UP MAJORITY STAKE IN ELLENBARRIE

Ellenbarrie Industrial Gases becomes member of Air Water Inc. Group

Kolkata, 28 November 2013: In a major development, Japan based conglomerate Air Water Inc. acquired 51% equity stake in Kolkata based Ellenbarrie Industrial Gases Limited. This is the maiden acquisition by the Japanese major of any Indian company. The Japanese group with this acquisition will now explore the Indian Industrial Gases market along with Ellenbarrie.

Ellenbarrie has collaborated with Air Water Inc., who has in turn purchased 3,338,858 equity shares representing 51% of the share capital of Ellenbarrie w.e.f October 22, 2013 to pursue business expansion in the Indian market including West Bengal. Air Water Inc. will use its technologies (and business concepts under the banner of Ellenbarrie Industrial Gases to establish and consolidate their business in the Indian market. The synergy of Air Water Inc. and Ellenbarrie will be used to create new business model based on the global cost standards and to promote further overseas ventures in the country.)

Speaking on the development, Mr. P.K. Agarwala, Managing Director Ellenbarrie Industrial Gases said, “The entry of one of the major Asian industrial gases company, Air Water Inc. in the Indian market is indeed a big step forward for development of the Industrial Gases industry. We are confident that the association of Air Water Inc with Ellenbarrie will go a long way in expanding the industrial gases business in India”.

Industrial Gases industry in India witnessed a major growth with change in business model from retail to pipeline The acquisition of Ellenbarrie Industrial Gases by Air Water Inc. will not only give the later an opportunity to establish a foothold in India, but also establish a strong alliance of two experienced industrial gas companies.

Commenting on the entry in Indian market, Mr. Masato Machida, Corporate Director, General Manager – Corporate Planning, Air Water Inc. said, “Air Water Inc. as a part of its key strategic growth plan has been focusing strongly in markets outside Japan, especially in the area of industrial gas business. We have been looking out for long to enter into the Indian market and finally we have decided to acquire the majority stake in Ellenbarrie Industrial Gases. Air Water Inc. with this acquisition will offer global standard technologies and unique business models for the industrial gas customers in India.”

Air Water Inc. together with Ellenbarrie Industrial Gases will explore the Indian Industrial gas market where substantial growth is expected. The company will also pursue the business expansion in other business areas. Air Water Inc. will also create a new business model based on the global cost standards and expand into overseas market from India.

Air Water Incorporation:

Air Water Inc. (AWI) is a public limited company incorporated under the laws of Japan having its headquarters at Osaka, Japan. AWI was established on September 24, 1929 in Sapporo. The Company expanded its businesses through two mergers, first in 1993 and the second in 2000. The first merger complimented geographical position to expand into the national market. The second merger gave its expansion to on-site gas supply business for steel mills. With these two mergers and the subsequent successful results, the Company has been recognized as one of most successful M&A driven companies in the Japan.

Since its establishment in 1929, AWI has expanded its business to a great variety of fields, including chemicals, medical equipment and services, energy, agriculture, food products, salt, magnesia, logistics, aerosols, and mineral water.

AWI is one the leading industrial gas companies of Japan with a capital of 32 billion YEN and Net Sales of 542 billion YEN (as of March 2013, consolidated result) The Company enjoys a high reputation and has diversified its business and today has around 8,937 employees across the globe working for them . The Company’s shares are currently listed in the Tokyo Stock Exchange and Sapporo Securities Exchanges in Japan.

Ellenbarrie Industrial Gases:

Ellenbarrie Industrial Gases Ltd has been one of the leading packaged gas manufacturer and supplier in the Eastern India with more than 40 years of business experience in this field. Ellenbarrie Industrial Gases Ltd was originally conceived on November 23, 1973 as a public limited company headquartered in Kolkata, West Bengal. The Company is in the business and manufacture of industrial gases such as oxygen, nitrogen, argon and other mixture gases including trading of steel sheets. Presently, the Company has its manufacturing outlets at Kalyani and Uluberia in West Bengal and Vizag in Andhra Pradesh. Currently a fourth manufacturing outlet is being set up near, Hyderabad in Andhra Pradesh.

Ellenbarrie enjoys a dominant position in the markets it operates and is present mainly in the merchant market for liquid and gas. This allows its manufacturing facilities to be dedicated fully to the network of customers it supplies. To cater to the customers better Ellenbarrie maintains its own dedicated fleet of cryogenic transport tankers and cylinders.


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