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Business

Taiyo Nippon to buy Australian gas maker

The deal will expand Taiyo Nippon Sanso 's industrial-gas operations in Australia.

TOKYO -- Taiyo Nippon Sanso will acquire an Australian industrial-gas company this year as it continues to fortify its overseas network in an effort to weather intense jockeying for position that is redrawing the industry map.

Japan's biggest industrial-gas maker will acquire all outstanding shares of Supagas through an Australian subsidiary, likely for around 25 billion yen ($225 million). Based near Melbourne, Supagas has 17 production and sales bases. Taiyo Nippon will retain all of Supagas' 270 or so employees.

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