Air Products, a world-leading industrial gases company in operation for over 80 years, has announced that it has acquired Air Liquide's industrial gases business in the UAE and Bahrain.
As per the deal, the Pennsylvania-based company will take over Air Liquide Emirates for Industrial Gases (Alemir) and Orca Industrial Gases, which includes liquid bulk, packaged gases and specialty gases of Air Liquide in the UAE in addition to Air Liquide's majority share in Middle East Carbon Dioxide (MECD), a joint venture with Almo Holdings for a liquid carbon dioxide (CO2) production facility in Bahrain.
However, the firm did not disclose the financial terms for the agreement.
On the strategic move, Hamid Sabzikari, the Vice President and General Manager of Air Products Industrial Gases for Middle East, Egypt and Turkey, said: "The acquisition builds on many years of good experience working in and serving customers in the Middle East and supports our growth strategy for the region."
"It is yet another example of how Air Products is building and strengthening its industrial gas business in the Middle East," he stated.
Sabzikari pointed out that in acquiring these businesses, Air Products had further expanded its footprint and regional presence in the UAE and Bahrain.
"It has strengthened our product sourcing and reliability, and welcomed talented and dedicated people into our Middle East organization who are passionate about serving local customers," he added.
-TradeArabia News Service
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