LEHIGH VALLEY, Pa.,
Jan. 9, 2012 /PRNewswire/ -- Air
Products (NYSE: APD) today announced it has reached agreements for
The Linde Group to purchase its Homecare business in Belgium, Germany, France, Portugal and Spain. The transactions are subject to
regulatory approval and employee consultation
requirements.
The total purchase price for Air Products' Continental Europe
Homecare business will be euro 590
MM, subject to terms agreed upon completion.
The agreements cover the sale of Air Products' patient-based
oxygen-therapy, sleep-therapy and infusion-therapy services in
Continental Europe. This business serves a total patient base
around 260,000 in all five countries and had revenue of
approximately euro 210 MM last
year.
Chairman, President and CEO John
McGlade said, "Over many years, our Continental European
Homecare team has run a successful business, helping us to build
several leadership positions. With the more recent
trends towards concentrators and non-oxygen therapies, we feel
it is no longer a natural fit with our core gases business. Our
growth strategy lies in the energy, environmental and emerging
markets in which we continue to see significant opportunities."
The company is assessing several options in regards to its
remaining Homecare interests in the UK, Ireland, Argentina and Brazil. Air Products will continue to operate
these businesses as part of its portfolio, competing to win new
business and providing quality patient care. More broadly,
Healthcare continues to offer profitable opportunities through the
supply of merchant gases and related services to hospitals and
other care providers.
Air Products serves customers in industrial, energy, technology
and healthcare markets worldwide with a unique portfolio of
atmospheric gases, process and specialty gases, performance
materials, and equipment and services. Founded in 1940, Air
Products has built leading positions in key growth markets such as
semiconductor materials, refinery hydrogen, home healthcare
services, natural gas liquefaction, and advanced coatings and
adhesives. The company is recognized for its innovative culture,
operational excellence and commitment to safety and the
environment. In fiscal 2011, Air Products had revenues of
$10.1 billion, operations in over 40
countries, and 18,900 employees around the globe. 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,
2011.
SOURCE Air Products