LEHIGH VALLEY, Pa.,
March 1, 2019 /PRNewswire/ -- Air
Products (NYSE: APD) today announced it has completed the
acquisition of ACP Europe SA (ACP), the largest independent
carbon dioxide (CO₂) business in Continental Europe. All
required customary closing conditions and regulatory approvals have
been satisfied. Financial terms of the transaction are not being
disclosed.
Concluding this deal enables the company to better serve
existing customers and pursue new industrial gas growth
opportunities. Customers will now benefit from an expanded liquid
CO₂ supply position across additional European geographies and
greater density throughout Continental Europe.
"This is a good, logical deal. The ACP CO2 business
complements our own and provides a solid platform to deliver
customer value and pursue further European industrial gas growth,"
commented Ivo Bols, Air Products'
Industrial Gases President in Europe and Africa. "I have no doubt that our customers
will benefit from a stronger portfolio as well as the collective
and complementary expertise of our combined team."
"With over 120 years of CO2 experience, we have built
a quality, well-managed business that delivers," commented
Jan De Ridder, Director, ACP.
"Becoming part of Air Products means we can look to the future with
great optimism."
ACP serves customers across a variety of applications including
beverage, chemical, food and horticulture. It has more than 120
employees, four liquid CO2 production plants (with
an additional facility under construction) and two dry ice
production locations across Europe.
About Air Products
Air Products (NYSE: APD) is a
world-leading industrial gases company in operation for over
75 years. The company provides industrial gases and related
equipment to dozens of industries, including refining, chemical,
metals, electronics, manufacturing, and food and beverage.
Air Products is also the world's leading supplier of liquefied
natural gas process technology and equipment.
The Company had fiscal 2018 sales of $8.9
billion from operations in 50 countries and has a current
market capitalization of about $35
billion. Approximately 16,000 passionate, talented and
committed employees from diverse backgrounds are driven by Air
Products' higher purpose to create innovative solutions that
benefit the environment, enhance sustainability and address the
challenges facing customers, communities, and the world. For more
information, visit www.airproducts.com.
NOTE: This release may contain forward-looking statements
within the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on management's reasonable expectations and assumptions as of
the date of this release regarding important risk factors. Actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors not anticipated by management,
including risk factors described in the company's Form 10K for its
fiscal year ended September 30,
2018.
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SOURCE Air Products