LEHIGH VALLEY, Pa.,
Feb. 15, 2018 /PRNewswire/
-- Air Products (NYSE: APD) today announced a definitive
agreement to purchase ACP Europe SA
(ACP), the largest independent carbon dioxide (CO2)
business in Continental Europe. The transaction will complement Air
Products' European CO2 capabilities in core geographies
where the company already provides industrial gases.
"We are delighted to announce this transaction to acquire
ACP. We are committed to invest in our core industrial gas
business where it creates significant value for our shareholders,
and the acquisition of ACP fulfils that criteria. ACP has a
quality, well-run European CO2 business that like Air
Products, prioritizes safety above all else," commented
Ivo Bols, president, Industrial
Gases–Europe and Africa at Air
Products. "Together, with our complementary product portfolio and
customer-centric approach, this acquisition will enable us to
better serve our existing customers and pursue new industrial gas
growth opportunities."
Today, Air Products supplies a broad portfolio of industrial
gases across 13 European countries including liquid CO2
from its operations in Spain and
Poland. Through the acquisition of
ACP, Air Products would expand its liquid CO2 supply
position across additional European geographies and further build
density throughout Continental Europe.
"We have a long history providing excellent service to our
CO2 customers based on the expertise and dedication of
our employees. Combining our business with a world-leading
industrial gas company committed to safety will provide customers
with an expanded product portfolio and broader sourcing and supply
chain capabilities, while offering our talented people significant
opportunities for the future," said Jan De
Ridder, Director, ACP.
ACP has more than 120 employees, four liquid CO2
production plants and two dry ice production locations across
Europe. The business serves customers across a variety of
applications including beverage, chemical, food and
horticulture.
Closing of the transaction is conditional upon satisfaction of
customary closing conditions and obtaining necessary regulatory
approvals. Financial terms of the transaction are not being
disclosed.
About Air Products
Air Products (NYSE:APD) is a world-leading Industrial Gases company
in operation for over 75 years. The Company's core industrial gases
business provides atmospheric and process gases and related
equipment to manufacturing markets, including refining and
petrochemical, metals, electronics, 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 2017 sales of $8.2
billion from continuing operations in 50 countries and has a
current market capitalization of about $35
billion. Approximately 15,000 passionate, talented and
committed employees from a diversity of 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,
2017.
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SOURCE Air Products