Iwatani International Corp.

11/01/1996

Iwatani International Corp., Osaka, Japan, and Praxair Inc., Danbury, CT, intend to form a new joint venture to be called Praxair Iwatani Electronic Gases Co. Ltd., to be headquartered in Tokyo. The venture will provide electronic gases, services, and systems to the semiconductor manufacturing industry in Japan. Praxair will hold 51% ownership in the venture, which represents an initial capital investment of $4.5 million (450 million yen), with total capital investment of $18 million. Praxair Iwatani will help meet growing environmental concerns of the semiconductor industry by introducing to Japanese customers environmentally safe technologies, such as Praxair`s patented recycling system for perfluorinated compounds.