- Acquisition of Air Liquide Emirates for Industrial Gases LLC
(ALEMIR) and Orca Industrial Gases LLC, which includes liquid bulk,
packaged gases and specialty gases of Air Liquide in the
UAE
- Acquisition of Air Liquide's majority share in Middle East
Carbon Dioxide W.L.L (MECD), a joint venture with ALMO Holdings CO
W.L.L, for a liquid carbon dioxide (CO2) production
facility in Bahrain
LEHIGH VALLEY, Pa.,
April 12, 2022 /PRNewswire/ -- Air
Products (NYSE:APD) announced that it has acquired Air Liquide's
industrial gases business in the UAE, including liquid bulk,
packaged gases and specialty gases; and Air Liquide's majority
share in MECD, which owns and operates a liquid CO2
production facility in Bahrain.
Financial terms are not being disclosed for the agreement.
"The acquisition builds on many years of good experience working
in and serving customers in the Middle
East and supports our growth strategy for the region,"
commented Hamid Sabzikari, vice president and general manager, Air
Products Industrial Gases Middle East, Egypt and Turkey.
"It is yet another example of how Air Products is building and
strengthening its industrial gas business in the Middle East. In acquiring these businesses, we
have further expanded our footprint and regional presence in the
UAE and Bahrain, strengthened our
product sourcing and reliability, and welcomed talented and
dedicated people into our Middle
East organization who are passionate about serving local
customers."
About Air Products
Air Products (NYSE:APD) is a
world-leading industrial gases company in operation for over 80
years. Focused on serving energy, environment and emerging markets,
the Company provides essential industrial gases, related equipment
and applications expertise to customers in dozens of industries,
including refining, chemical, metals, electronics, manufacturing,
and food and beverage. Air Products is also the global leader in
the supply of liquefied natural gas process technology and
equipment. The Company develops, engineers, builds, owns and
operates some of the world's largest industrial gas projects,
including: gasification projects that sustainably convert abundant
natural resources into syngas for the production of high-value
power, fuels and chemicals; carbon capture projects; and
world-scale low and zero carbon hydrogen projects supporting global
transportation and the energy transition.
The Company had fiscal 2021 sales of $10.3 billion from operations in 50 countries and
has a current market capitalization of over $55 billion. More than 20,000 passionate,
talented and committed employees from diverse backgrounds are
driven by Air Products' higher purpose to create innovative
solutions that benefit the environment, enhance sustainability and
address the challenges facing customers, communities, and the
world. For more information, visit www.airproducts.com or
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Facebook or Instagram.
Cautionary Note Regarding Forward-Looking Statements: This
release contains "forward-looking statements" within the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
expectations and assumptions as of the date of this release and are
not guarantees of future performance. While forward-looking
statements are made in good faith and based on assumptions,
expectations and projections that management believes are
reasonable based on currently available information, actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors, including risk factors
described in our Annual Report on Form 10-K for the fiscal year
ended September 30, 2021.
Except as required by law, we disclaim any obligation or
undertaking to update or revise any forward-looking statements
contained herein to reflect any change in the assumptions, beliefs
or expectations or any change in events, conditions or
circumstances upon which any such forward-looking statements are
based.