Press Releases
Seoul, Korea – 1 June2012: The Linde Group, a world-leading gases and engineering company headquartered in Germany, today announced it had acquired 51 percent of the shares in privately-held PSG Corp, a leading distributor of merchant and packaged industrial gases in South Korea.
Established in year 1993, PSG Corp operates from eight sites, including its company headquarters in Busan in the south, and employs about 135 staff in total. The company owns a high purity ammonia production plant, and operates a number of small onsite Pressure Swing Adsorption units (PSA) as well as several industrial gas filling facilities handling products such as argon, carbon dioxide, helium, hydrogen, LPG and refrigerants. PSG Corp supplies to a wide range of customers in the manufacturing, shipbuilding, steel, automobile and electronics industries.
Mr Rob Hughes, President of Linde Korea said, “We are delighted that Linde Korea and PSG are now partners, given our complementary strengths. Working with PSG’s dedicated and experienced team, we intend to leverage the combined capabilities and resources of Linde and PSG to further improve our service and product offerings to our customers and participate in the many emerging business opportunities we see across the country.”
Mr Bernd Eulitz, Regional Business Unit Head for Linde’s gases business in South & East Asia said, “Our partnership and cooperation with the PSG Corp will increase The Linde Group’s capabilities in the merchant and packaged gases segment, and expand our supply and service infrastructure, especially in the south of the country. We aspire to grow our business in South Korea and our investment in PSG Corp is yet another demonstration of our long term commitment to this goal.”
Mr Lee Heungsoo, CEO of PSG Corp said, "We are very excited to become a member of The Linde Group, which is the market leader in industrial gases in Asia. Our association with Linde will enable PSG Corp to leverage on The Linde Group’s deep knowledge and technological expertise in gases and its international best processes to further accelerate our expansion plans and grow our business.”
Since its establishment in Pohang in 1988, Linde Korea has continuously expanded its product and services portfolio as well as its footprint across the country. Last October, the company officially inaugurated its second plant at Giheung, which had an investment value of USD 180 million (about KRW 206 billion / EUR 130 million). Linde Korea is also constructing a new 5,200 tons per annum nitrous oxide production plant in Chungnam Asan, which will be the largest such plant in Korea once it is completed in end-2012.