Air Liquide Strengthens Its Long-Term Relationship with Kumho Mitsui Chemical (KMCI) in South Korea

Rhea-AI Summary

Air Liquide (Paris:AI) has secured a long-term contract with Kumho Mitsui Chemical (KMCI) to supply additional hydrogen and carbon monoxide at Yeosu National Industrial Complex, South Korea. This agreement supports KMCI’s 50% expansion in methyl diphenyl diisocyanate (MDI) production, increasing output by 200,000 tons annually, with operations starting in 2024. This partnership builds on a 20-year relationship and leverages Air Liquide's advanced production facilities, enhancing operational efficiency and safety.

Positive

• Long-term contract with KMCI strengthens Air Liquide's market position.
• Support for KMCI's expansion by 200,000 tons annually indicates growth potential.
• Investment in advanced production facilities enhances operational efficiency.

Negative

• None.

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

Air Liquide (Paris:AI) has signed a long-term contract to supply Kumho Mitsui Chemical (KMCI), a world leader in the chemical industry, with additional hydrogen and carbon monoxide in South Korea’s Yeosu National Industrial Complex, where Air Liquide operates four production units. This contract will enable Air Liquide to support KMCI’s additional expansion of 200,000 tons per year production of methyl diphenyl diisocyanate (MDI). This isomer is used in the manufacture of polyurethane for high-tech materials and insulation.

Air Liquide will supply additional hydrogen and carbon monoxide to KMCI for its 50% expansion of methyl diphenyl diisocyanate (MDI) production with operations commencing in 2024. To supply KMCI, Air Liquide will leverage its fourth hydrogen and carbon monoxide unit in the Yeosu complex. This latter is coupled to a CO2 recycling facility installed this year.

With this new partnership, both Groups reinforce their long standing relationship. Air Liquide’s first agreement with KMCI was signed 20 years ago in Yeosu. Since then, Air Liquide has significantly developed its industrial footprint in the Yeosu basin, culminating in the design and construction of a fourth state-of-the-art, highly efficient hydrogen and carbon monoxide plant. This unit is integrated with the three other plants with a 40 km pipeline supply network in Yeosu to ensure the highest level of safety, reliability, efficiency, and flexibility to its customers.

François Abrial, Member of the Air Liquide Group’s Executive Committee supervising Asia Pacific, said: “With this new contract, we are honored to extend our long-term relationship with KMCI, a 20-year strategic collaboration that has enabled us to steadily build our footprint in Yeosu, a major industrial complex in South Korea, to accompany KMCI’s continued growth.”

Air Liquide in South Korea
Air Liquide has been present in South Korea since 1996. On top of providing industrial gases and related services to major industries (petrochemical, steel, semiconductors, car manufacturing, etc), it also has a strong presence in Home Healthcare activities. It is also one of the founders and key contributors to the development of the hydrogen economy in Korea.

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.

Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.

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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Source: Air Liquide

FAQ

What is the significance of Air Liquide's contract with KMCI?

The contract strengthens Air Liquide's relationship with KMCI and supports their production expansion, indicating potential revenue growth.

When will Air Liquide start supplying hydrogen and carbon monoxide to KMCI?

Air Liquide will begin supplying these gases to KMCI in 2024.

How much will KMCI's methyl diphenyl diisocyanate production increase?

KMCI's production will increase by 200,000 tons per year.

What role does Air Liquide play in the hydrogen economy in South Korea?

Air Liquide is a key contributor to the development of the hydrogen economy in South Korea.

What are the financial figures for Air Liquide from 2021?

Air Liquide reported revenues exceeding 23 billion euros in 2021.