Praxair (PX) Enters Long-Term Supply Agreement with Brazil's Fibria Celulose (FBR)
- Euro and global stocks hold Italy-related gains ahead of ECB
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
- GoDaddy (GDDY) to Acquire Host Europe Group in ~$1.8B Deal
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Trump's corporate tax holiday could spur pharma M&A
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Praxair, Inc. (NYSE: PX), through its Brazilian subsidiary White Martins, has signed a long-term agreement expanding its supply of oxygen to Fibria Celulose S/A (NYSE: FBR) in Três Lagoas, Brazil. Fibria is the world’s largest producer of eucalyptus pulp, exporting the product to customers in more than 40 countries.
Through its Horizon 2 Project, Fibria is expanding its Três Lagoas facility, located in the state of Mato Grosso do Sul. The expansion is expected to be completed in late 2017. Praxair’s new plant, also expected to start up in late 2017, is designed to increase Fibria’s productivity and support the company’s expansion of this site. Fibria currently has global annual production capacity of 5.3 million tons of eucalyptus pulp and is seeking to increase its capacity to 7.25 million tons annually. Fibria’s expansion will demand an additional 160 tons per day of oxygen, for use in the pulp delignification stage, also known as pre-bleaching pulp.
“White Martins is proud of the strong relationship we have built with Fibria throughout the years while serving their industrial gas needs at the Três Lagoas and Aracruz plants in Brazil,” said Domingos Bulus, president of Praxair South America. “We look forward to supporting the continued expansion of Fibria in Brazil and around the world by delivering reliable service and value-creating applications technologies.”
“As the global leader in the eucalyptus pulp market, Fibria is known for its operational excellence,” said Júlio Cunha, director of engineering for the Horizon 2 Project. “That is why we have selected serious and committed suppliers that can support the growth and sustainable development of the company.”
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Xerox Corp. (XRX) Appoints Two New Board Members
- Merck (MRK) to Present Strong Results from Two KEYTRUDA Studies in r/r cHL
- AstraZeneca (AZN) Announces Significant Data from Tagrisso AURA3 Trial in NSCLC
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!