Air Liquide Strengthens Its Long-Term Relationship With BASF in South Korea
January 21 2021 - 3:15AM
Dow Jones News
Regulatory News:
Air Liquide (Paris:AI) and BASF, a world-leading chemical
company, have signed a contract in South Korea's Yeosu National
Industrial Complex to extend the term of their existing agreements
over the long term. Within this context, Air Liquide leveraged the
start-up in 2020 of its fourth hydrogen and carbon monoxide unit in
this major industrial complex to increase by 20% the contractual
volumes dedicated to BASF.
Air Liquide's first contract with BASF in Yeosu was signed 20
years ago. Since then, Air Liquide has significantly developed its
industrial footprint in the Yeosu basin, culminating in the
construction of a state-of-the-art, highly efficient hydrogen and
carbon monoxide plant designed and built by Air Liquide's
Engineering and Construction. This latest unit, which started up in
2020, is fully integrated with Air Liquide's three other plants
through its 40 km pipeline supply network in Yeosu to ensure the
highest level of safety, reliability, efficiency, and flexibility
to its customers.
Recognising this strong industrial set up and customer focus of
Air Liquide, BASF has renewed its trust in Air Liquide by extending
the existing contracts over the long term, and increasing its
reserved capacity by +20%, further reinforcing the long-standing
relationship between Air Liquide and BASF.
Francois Abrial, member of the Air Liquide Group's Executive
Committee supervising Asia-Pacific, said: "We are pleased to
strengthen our long-term partnership with BASF, a leading global
company and long-standing strategic customer of the Group, by
extending and expanding further our collaboration in the Yeosu
basin. This major contract is a demonstration of BASF's trust and
confidence in Air Liquide to create value and deliver long-term
performance to our customers."
Air Liquide in South Korea
Air Liquide has been present in South Korea since 1996,
providing industrial gases and related services to major industries
(petrochemicals, oil refining, steel, automotive, and renewable
energy, etc). Today, Air Liquide operates 4 main affiliates in
Korea: Air Liquide Korea for industrial gases & services as
well as the hydrogen energy market, VitalAire Korea for Home
healthcare equipment & services, Air Liquide Solutions Korea
for electronic gases & services, and Air Liquide Advanced
Materials Korea for cutting edge production and development of
advanced materials.
The Large Industry Business Line of Air Liquide
Offers gas and energy solutions that improve process efficiency
and help achieve greater respect for the environment, mainly in the
refining and natural gas, chemicals, metals and energy markets. In
2019, revenues were EUR5,629 million.
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 80 countries with
approximately 67,000 employees and serves more than 3.7 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide's scientific territory and have been at the core of the
company's activities since its creation in 1902.
Air Liquide's ambition is to be a leader in its industry,
deliver long term performance and contribute to sustainability. The
company's customer-centric transformation strategy aims at
profitable, regular and responsible growth over the long term. It
relies on operational excellence, selective investments, open
innovation and a network organization implemented by the Group
worldwide. Through the commitment and inventiveness of its people,
Air Liquide leverages energy and environment transition, changes in
healthcare and digitization, and delivers greater value to all its
stakeholders.
Air Liquide's revenue amounted to 22 billion euros in 2019 and
its solutions that protect life and the environment represented
more than 40% of sales. Air Liquide is listed on the Euronext Paris
stock exchange (compartment A) and belongs to the CAC 40, EURO
STOXX 50 and FTSE4Good indexes.
www.airliquide.com
Follow us on Twitter @airliquidegroup
View source version on businesswire.com:
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CONTACT: Corporate Communication
media@airliquide.com
Investor Relations
IRTeam@airliquide.com
SOURCE: Air Liquide
Copyright Business Wire 2021
(END) Dow Jones Newswires
January 21, 2021 03:00 ET (08:00 GMT)
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