Air Water India acquires Praxair India’s business of manufacture, sale and distribution of oxygen, nitrogen and argon operated in East India

Air Water India Private Limited (“AW India”) and Air Water Inc. (“AWI”) have earlier today entered into Business Transfer Agreement for AW India to acquire related business of manufacture, sale and distribution of oxygen, nitrogen and argon operated in East India (hereinafter referred to as “East Region Divestment Business”) of Praxair India Private Limited (hereafter “Praxair India”).

Based on the Agreement, AWI will make an investment in AW India to provide it with funds necessary for acquiring the East Region Divestment Business. Based on this investment, AW India will be qualified as a subsidiary set forth in Paragraph 5 of Article 166 of the Financial Instruments and Exchange Act.

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