Air Liquide Agrees to Purchase US Company Scott Specialty Gases
Thursday September 27, 12:05 pm ET
PARIS--(BUSINESS WIRE)--Regulatory News:
American Air Liquide Holdings, Inc., a 100% Air Liquide affiliate, announces an agreement to purchase the assets of Scott Specialty Gases, Inc., a leading privately held international producer and supplier of value-added mixed and pure high specialty gases to the analytical, medical and electronics sectors, and of high-performance gas handling equipment and specialty gas delivery systems. The transaction is pending clearance from the U.S. antitrust authorities.
Headquartered in Plumsteadville, Pennsylvania, Scott employs approximately 450 people with annual sales of approximately $88 million. It covers the US national market with operations centers in the Northeast, Midwest, Gulf Coast, Rocky Mountain, and Pacific markets of the U.S. Internationally, Scott develops business from the UK and the Netherlands to Europe, India, Africa the Middle East and Taiwan.
The combined Air Liquide and Scott operations in the high growth market for specialty gases will provide Air Liquide with a new platform for growth and a true nationwide U.S. presence, notably in the Middle Atlantic and North Central areas. This acquisition will also reinforce Air Liquide's important business in Europe, Taiwan and the Middle East.
Pierre Dufour, Executive Vice-President, Air Liquide Group, said: "Scott is a leading brand in specialty, medical and electronic gases recognized the world over for quality and service. A natural fit for Air Liquide, Scott will further its strategy of growing its high value-added specialty gas business."
Fred Merz has owned and led Scott Specialty Gases since 1977. About selling the company to Air Liquide, he said: "I am very pleased that Air Liquide is acquiring the global business and assets of Scott Specialty Gases. This is a terrific strategic fit for our Scott Team Members, our customers and our operations."
Specialty gases in the US
The U.S. market for specialty gases has been growing at an annual rate of 6% and represents approximately $1.3 billion in sales (of which $725 million are sales to the laboratory and analytical sector), out of an estimated total market of $4.5 billion for all packaged gases. Specialty gases are primarily used in laboratories and for analytical protocols; other sectors include gases for the manufacturing of electronics components and gases used as calibration standards.
Air Liquide in the US
American Air Liquide Holdings, Inc. is the subsidiary of Air Liquide Group responsible for its North American operations. In the U.S., with 3,800 employees in more than 200 locations, it offers industrial gases and related services to a variety of customers in the large industry, industrial merchant, electronics and healthcare markets.
With more than 38,000 employees in 72 countries, Air Liquide is a world leader in industrial and medical gases and related services. The Group offers innovative solutions based on constantly enhanced technologies and produces air gases (oxygen, nitrogen, argon, rare gases...) and many other gases including hydrogen. The Group contributes to the manufacturing of many everyday products: bubbles in sparkling beverages, protective atmosphere for packed foods, oxygen for hospitals and homecare patients, ultra-pure gases for the semiconductor industry, hydrogen to desulfurize fuels.
Air Liquide is committed to sustainable development and helps to protect life. Founded in 1902, Air Liquide has successfully developed a long-term relationship with its shareholders built on trust and transparency and guided by the principles of corporate governance. Since the publication of its first consolidated financial statements in 1971, Air Liquide has posted strong and steady earnings growth. Sales in 2006 totaled 10,949 million euros, with sales outside France accounting for almost 80%. Air Liquide is listed on the Paris stock exchange and is a component of the CAC 40 and Eurostoxx 50 indices (ISIN code FR 0000120073).
Source: Air Liquide
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