Taiyo Nippon Sanso Corporation (TNSC), together with a newly established joint venture (JV) in Thailand, has acquired Thai industrial gas producer Air Products Industry Co., Ltd. (API).
API achieved net sales of ¥4.2bn ($30m) in 2014 and has around 290 employees across its head office in Bangkok and business bases including Chonburi, Ayutthaya , and Lamphun.
The deal is seen as a further reinforcement of TNSC’s growing footprint in Southeast Asia, and the rapidly rising Thai market in particular.
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