Air Liquide Signed an Agreement with Lincoln Electric for the Sale of Its Air Liquide Welding Subsidiary
April 27 2017 - 4:10PM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) announces it signed today an agreement
with Lincoln Electric France SAS, subsidiary of Lincoln Electric
Holdings, Inc. (“Lincoln Electric”) (Nasdaq: LECO), to sell Air
Liquide Welding, its subsidiary specialized in the manufacture of
welding and cutting technologies. This agreement follows the
exclusive negotiations agreement announced on March 2nd
2017 with Lincoln Electric, the world leader in design,
development and manufacture of arc welding products, robotic arc
welding systems, plasma and oxy-fuel cutting equipment.
The completion of the transaction is subject to obtaining the
usual regulatory approvals, including competition authorities’
approval.
Both parties expect the transaction to be completed in the
second half of 2017.
Air Liquide is focused on its Gas & Services activities
following the acquisition of Airgas, as well as on the
implementation of its company program NEOS for the 2016-2020
period.
About Air Liquide
Welding
Air Liquide’s subsidiary, Air Liquide Welding is a key player in
the manufacturing of welding and cutting technologies. Air Liquide
Welding, which has approximately 2,000 employees across the world,
has generated in 2016 a turnover around €350 million. It offers,
through several internationally well known brands (SAF-FRO and
OERLIKON in the industrial field, CEMONT for professionals...), a
large range of related equipment, consumables and services on the
market.
About Lincoln Electric
Lincoln Electric is the world leader in the design, development
and manufacture of arc welding products, robotic arc welding
systems, plasma and oxy-fuel cutting equipment and has a leading
global position in the brazing and soldering alloys market.
Headquartered in Cleveland, Ohio, Lincoln has 47 manufacturing
locations, including operations and joint ventures in 19 countries
and a worldwide network of distributors and sales offices covering
more than 160 countries. In 2016, Lincoln Electric generated $2.3
billion in revenue. For more information about Lincoln Electric and
its products and services, visit the Company's website at
www.lincolnelectric.com.
The 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 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 lead its industry, deliver long
term performance and contribute to sustainability. The company’s
customer-centric transformation strategy aims at profitable 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 €18.1 billion in 2016 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.comFollow us on Twitter
@airliquidegroup
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