Industrial gas supplier Air Liquide China has entered an agreement to sell its subsidiary Air Liquide Fuzhou to Fujian Shenyuan New Materials.
Air Liquide Fuzhou owns and operates the integrated gas complex in Fujian in south-east China.
The decision to sell the subsidiary is in line with the climate objectives of the French company. The transaction is expected to reinforce the company’s ability to invest in its main industrial basins, including in China, and to focus on other high potential activities.
The industrial gases complex that was sold includes a coal gasification unit in addition to an air separation unit, a synthetic gas purification unit and an ammonia plant.
The company said that the transaction will have a limited unfavourable one-off impact on the net profit of the first half of 2019.
Subject to closing conditions, the Chinese subsidiary’s transaction with Highsun Holding Group, the parent company of Fujian Shenyuan, is expected to close in the third quarter of 2019.
In March, Air Liquide announced that Airgas has completed the acquisition of TA Corporate Holdings (Tech Air), an independent distributor of industrial gases and welding supplies serving various geographies in the US.
The transaction allows Airgas to strengthen its network in the US with a complementary footprint to better serve customers while generating significant efficiencies.(source)
Get complete information on its finance: https://www.marketscreener.com/AIR-LIQUIDE-4605/
About Air Liquide China:
Air Liquide is one of the world leaders in industrial and medical gas production. Sales break down by family of products and services as follows:
– industrial and medical gases (95.7%): oxygen, nitrogen, hydrogen, synthesized gases. The group also supplies control equipment and services for fluid systems, gas and liquid chemical management, home care and hospital hygiene services, and operating room equipment. Net sales break down by market as follows: industry (73.9%), healthcare (17.4%) and electronics (8.7%);
– fine chemicals (2.3%).
The remaining sales (2%) concern engineering activities related to gas production plant construction and high-tech product manufacturing.
Net sales are distributed geographically as follows: France (12.9%), Europe (23.6%), the United States (32.9%), Americas (5.8%), Asia/Pacific (21.7%), Africa and Middle East (3.1%).
Air Liquide to divest its dedicated gases complex to Fujian Shenyuan https://t.co/33FmwUuq0i
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