Air Liquide Divested Its Industrial Merchant Business in UAE & Bahrain

Rhea-AI Summary

Air Liquide has sold its Industrial Merchant business in the UAE and Bahrain to Air Products Group. This deal involves Air Liquide Emirates for Industrial Gases LLC and their stake in Middle East Carbon Dioxide W.L.L. The divestiture is part of Air Liquide's strategic focus to refine its asset portfolio, despite being immaterial to its overall portfolio in the Africa Middle East and India region. Following the acquisition, 97 employees have transitioned to Air Products. Air Liquide aims to strengthen its presence in the GCC region, focusing on large industries and healthcare.

Positive

• Strategic divestiture to focus on high-growth areas.
• Continued emphasis on clean Hydrogen and Energy Transition opportunities.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Air Liquide (Paris:AI) announces the sale of its Industrial Merchant business in the United Arab Emirates and Bahrain to Air Products Group. This transaction includes Air Liquide Emirates for Industrial Gases LLC (ALEMIR) and Air Liquide’s share in Middle East Carbon Dioxide W.L.L (MECD).

This divestment is immaterial with regards to the overall portfolio of Air Liquide in the Africa Middle East and India region. It is part of the Group’s strategy to regularly review its asset portfolio and focus on selected fast developing areas and activities. As a consequence of this divestiture, the 97 employees are now integrated within the Air Products organization.

Air Liquide is well-positioned to further grow its already strong presence in the Gulf Cooperation Council (GCC) region in Large Industries and Healthcare businesses and pursue the many opportunities emerging with clean Hydrogen and Energy Transition.

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.

Air Liquide’s ambition is to be a leader in its industry, deliver long term performance and contribute to sustainability - with a strong commitment to climate change and energy transition at the heart of its strategy. The company’s customer-centric transformation strategy aims at profitable, regular and responsible growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.

Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.

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Investor Relations

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Source: Air Liquide

FAQ

Why did Air Liquide sell its Industrial Merchant business in the UAE and Bahrain?

Air Liquide sold its Industrial Merchant business to streamline its asset portfolio and focus on rapidly developing areas.

What is included in the sale of Air Liquide's Industrial Merchant business?

The sale includes Air Liquide Emirates for Industrial Gases LLC and Air Liquide's share in Middle East Carbon Dioxide W.L.L.

How many employees were affected by the sale of Air Liquide's business in the UAE and Bahrain?

A total of 97 employees were integrated into Air Products Group as a result of the sale.

What is Air Liquide's strategy following the sale of its Industrial Merchant business?

Air Liquide plans to grow its presence in the GCC, particularly in the large industries and healthcare sectors.

What are Air Liquide's financial highlights from 2021?

In 2021, Air Liquide reported over 23 billion euros in revenue.