Air Water acquisition of Sumisho Fine Gas and Aerosol Chemical

Air Water, Inc. recently reported it is to acquire Sumisho Fine Gas Co. and Tokyo Aerosol Chemical Co. to strengthen its hydrogen gas and aerosol businesses.
The value of the deals was undisclosed.

Air Water, Inc. recently reported it is to acquire Sumisho Fine Gas Co. and Tokyo Aerosol Chemical Co. to strengthen its hydrogen gas and aerosol businesses. The value of the deals was undisclosed. Air Water, the second largest Japanese industrial gas manufacturer, will buy a 52.5% stake in Sumisho Fine Gas, a hydrogen gas maker, from Sumitomo Corp. Air Water expects the acquisition to boost its hydrogen sales to JPY 5 billion in the year ending March 2003. Air Water will take full control of Tokyo Aerosol Chemical, a joint venture set up by Mitsubishi Corp., Asahi Glass Co. and Hokkai Can Co. Air Water expects the move to push up its annual aerosol sales to JPY 10.3 billion with a market share of about 8% in Japan.