Linde Sells Parts of Its US Packaged Gases Business to Airgas
Friday March 30, 12:44 am ET
WIESBADEN, GERMANY and MUNICH, GERMANY--(MARKET WIRE)--Mar 30, 2007 -- The technology group The Linde Group has signed a definitive agreement to sell its packaged gases business with retail stores in the United States to the industrial gases company Airgas Inc. at an enterprise value of 310 million US dollars. Linde will retain certain packaged gases accounts related to its independent distributors, including acetylene production sites and filling plants.
The business to be divested had sales of 346 million US dollars and EBITDA of around 36 million US dollars in the financial year 2006, with a workforce of approximately 1,400.
By this transaction Linde optimizes its portfolio focusing on customer segments in the US with a higher content of application technology.
The closing of the transaction is subject to regulatory approval and customary conditions.
The Linde Group is a world leading industrial gases and engineering company with more than 51,000 employees working in around 70 countries worldwide. Following the acquisition of The BOC Group the company has gases and engineering sales of approximately 12 billion euro. The strategy of The Linde Group is geared towards earnings-based growth and focuses on the expansion of its international business with forward-looking products and services.
Source: Linde AG
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