DANBURY, Conn.--(BUSINESS WIRE)--$PX #PraxairInc--Praxair, Inc. (NYSE: PX) today announced it has signed another long-term contract with an electronics manufacturer in Shanghai, China. Praxair will build, own and operate multiple air separation plants that will supply high-purity nitrogen and oxygen to EverDisplay Optronics (EDO), the first mass producer of 4.5-generation AMOLED displays in the country. Under the terms of the contract, Praxair will also supply EDO with helium and other gases.
Praxair’s plants will provide a combined 720 tons per day of nitrogen to EDO’s new 6th-generation AMOLED project in Shanghai. The nitrogen will be used in EDO’s manufacturing processes. The bulk gas supply is scheduled to begin in mid-2018, followed by additional supply from the air separation plants, which are expected to start up in 2019.
EDO will invest more than US$ 4.1 billion in its new project, which is the only AMOLED project supported by the Shanghai government and one of the focal projects in China’s 13th five-year plan.
“We are pleased to select Praxair as a valued supplier,” said Huiran Liu, vice general manager of EDO. “As a leading industrial gas company, we know Praxair will provide us a safe, reliable and competitive gas supply. We are looking forward to our close cooperation and the completion of the new project.”
“China is one of the world’s largest and fastest growing AMOLED markets,” said Will Li, president of Praxair China. “This project further builds on our long history of successfully serving electronics customers in China and around the world. Through this new agreement, we will continue to enhance our competitive position in Shanghai.”
Praxair, Inc. is a leading industrial gas company in North and South America and one of the largest worldwide. With market capitalization of approximately $40 billion and 2016 sales of $11 billion, the company employs over 26,000 people globally and has been named to the Dow Jones® World Sustainability Index for 15 consecutive years. Praxair produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Our products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others. For more information about the company, please visit our website at www.praxair.com.