Acquisition of Air Liquide Al Khafrah Industrial Gases
includes liquid bulk, packaged gases and specialty gases and builds
on prior acquisitions of Air Liquide's industrial merchant gas
assets in the region
LEHIGH
VALLEY, Pa., Sept. 12,
2022 /PRNewswire/ -- Abdullah Hashim Industrial Gases
& Equipment Co. Ltd. (AHG)―Air Products' merchant industrial
gas joint venture in the Kingdom of Saudi Arabia―today announced
the acquisition of Air Liquide Al Khafrah Industrial Gases (ALKIG),
Air Liquide's industrial merchant gases business in the
Kingdom of Saudi Arabia, including
liquid bulk, packaged gases and specialty gases. Financial terms
are not being disclosed.
Commenting on the acquisition, Mr. Khalid Hashim, managing director, AHG said: "We
are proud to have Air Products as our partner in the Kingdom. The
relationship between our companies has never been stronger and
continues to thrive. In acquiring this business from Air Liquide,
we strengthen our capabilities even further and as we continue to
grow, our customers will reap the benefits in service from a
passionate local business with a strong global partnership. We
welcome the talented and dedicated people who have joined our
organization and the enthusiasm and expertise they bring to serving
our customers."
"This acquisition, through AHG, supports our continued growth
strategy for the region and builds on decades of experience working
alongside and serving customers in the Middle East," commented Mr. Hamid Sabzikari,
vice president and general manager, Air Products Industrial Gases
Middle East, Egypt and
Turkey.
In January 2022, Air Products
successfully concluded the acquisition of Air Liquide's industrial
merchant gases business in United Arab
Emirates, including liquid bulk, packaged gases and
specialty gases; and Air Liquide's majority share in Middle East
Carbon Dioxide W.L.L. (MECD), for a liquid carbon dioxide
production facility in Bahrain.
Air Products continues to demonstrate its commitment to the
Middle East, growing its
industrial gas business, expanding regional capabilities and
strengthening product sourcing and reliability to better serve
customers.
About Air Products
Air Products (NYSE:APD) is a
world-leading industrial gases company in operation for over 80
years. Focused on serving energy, environment and emerging markets,
the Company provides essential industrial gases, related equipment
and applications expertise to customers in dozens of industries,
including refining, chemical, metals, electronics, manufacturing,
and food and beverage. Air Products is also the global leader in
the supply of liquefied natural gas process technology and
equipment. The Company develops, engineers, builds, owns and
operates some of the world's largest industrial gas projects,
including: gasification projects that sustainably convert abundant
natural resources into syngas for the production of high-value
power, fuels and chemicals; carbon capture projects; and
world-scale low- and zero-carbon hydrogen projects supporting
global transportation and the energy transition.
The Company had fiscal 2021 sales of $10.3 billion from operations in over 50
countries and has a current market capitalization of over
$55 billion. More than 20,000
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 or follow us on LinkedIn, Twitter, Facebook or
Instagram.
About Abdullah Hashim Industrial Gases & Equipment
(AHG)
Abdullah Hashim Industrial Gases & Equipment Co.
Ltd. is one of the leading merchant industrial gas manufacturers
and suppliers in the Kingdom of Saudi
Arabia. In the 1940's AHG was initially founded as a
metalworking operation and as this operation grew, it led to the
placement of the first Oxygen plant, at the first shipyard in
Jeddah, Saudi Arabia.
Since AHG's official establishment in 1954, the company shifted
its focus from metalworking to becoming the safest and most
reliable supplier of gases, gas related equipment, and gas services
in the Kingdom. AHG still maintains its roots through its welding
division where the company provides welding equipment and supplies
to the market, and through the years AHG has also added a
refrigerant gas division to its portfolio. In pursuit of AHG's
vision, Air Products became AHG's international partner and
shareholder for over 10 years. The successful partnership has been
reinforced through shared values.
Cautionary Note Regarding Forward-Looking Statements: This
release contains "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
expectations and assumptions as of the date of this release and are
not guarantees of future performance. While
forward-looking statements are made in good faith and based on
assumptions, expectations and projections that management believes
are reasonable based on currently available information, actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors, including risk factors
described in our Annual Report on Form 10-K for the fiscal year
ended September 30, 2021.
Except as required by law, we disclaim any obligation or
undertaking to update or revise any forward-looking statements
contained herein to reflect any change in the assumptions, beliefs
or expectations or any change in events, conditions or
circumstances upon which any such forward-looking statements are
based.
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SOURCE Air Products