Linde AG's acquisition to bring engineering expertise for BOC India

Kolkata, Jul 26 (UNI) Germany based Linde AG's acquisition of The BOC Group plc by September 2006 would bring in strong engineering and marketing expertise for the Indian subsidiary BOC India Ltd, specialising in gases business.

''The marriage of the two companies will form the largest industrial gases company globally. Linde's strength in engineering and marketing will help the Indian subsidiary,'' BOC India Ltd's Managing Director E R Raj Narayanan told reporters in the sidelines of the company's Annual General Meeting.

Linde would have to approach the statutory authorities for taking on control of the Indian subsidiary following acquisition BOC Group plc, the parent company, the executive said adding that BOC India would carry on business in the same lines until Linde completes the takeover and calls for changes in the business model.

Mr Narayanan said BOC India is looking at opportunities in steel, construction, petrochemicals, glass, pharmaceutical and automobile sectors for growth. The company has already initiated talks with a petrochemical company for a gas project and a deal is expected by the third quarter of the current fiscal, he said.

BOC had recently won the onsite contract for supply of over 3000 tonnes per day of gases for JSW Steel Ltd's expansion programme at Bellary, Karnataka and the company would invest Rs 350-400 crore in the project, the MD said.

BOC today reported a net profit of Rs 28.50 crore for the quarter ended June 30, 2006, as against Rs 11.36 crore in the corresponding quarter. The net sales stood at 109.09 crore as against Rs 102.14 crore in the same period last year.

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