Off the wire
• LME base metals close mixed on Monday  • Spotlight: Battle over Brexit referendum set to intensify  • Burundi's president swears-in new finance minister  • 2nd LD Writethru: Green party backed candidate beats right wing in Austrian presidential election  • Tanzanian wildlife conservator arrested over ivory deal  • Egyptian army kills 13 militants in restive Sinai  • Biodiversity conservation to fuel green growth: UNEP  • Burkina Faso police to investigate terrorist attack  • China figures among Britain's top 10 most valuable inbound tourism markets  • Feature: Model Confucius institute to become bridge of China-Ghana friendship  
You are here: 　 Home

French industrial gas firm acquires U.S. supplier Airgas

Xinhua, May 24, 2016 Adjust font size:

France's Air Liquide on Monday announced the completion of the acquisition of Airgas, one of the leading suppliers of industrial gases in the United States.

This acquisition allows Air Liquide to expand in the United States, considered the largest global market for industrial gases. The French multinational estimates the combined businesses to generate annual sales of more than 20 billion euros (22 billion U.S. dollars).

As part of the merger operation, the Airgas common stock has been delisted from the New York Stock Exchange. The U.S. gas supplier will operate as a subsidiary of Air Liquide within the company's U.S. operations and will go to market as Airgas, an Air Liquide company.

This combination employs about 68,000 people around the world, and will serve well over three million customers and patients.

"There is strong industrial and market logic to this acquisition, which ideally positions Air Liquide for future growth," said Benoit Potier, chairman and CEO of Air Liquide. Enditem