Business Deal Air Products Takes Over Industrial Gas Business from Air Liquide in the UAE, Bahrain
Under the terms of the agreement, Air Products will acquire Air Liquide Emirates for Industrial Gases and Orca Industrial Gases from Air Liquide as well as take over a majority share in Bahrain’s Middle East Carbon Dioxide, a joint venture firm between Air Liquide and Almo Holdings.
Pennsylvania/USA – Air Products has acquired from Air Liquide the following businesses: Air Liquide Emirates for Industrial Gases (Alemir) and Orca Industrial Gases, which includes liquid bulk, packaged gases and specialty gases of Air Liquide in the UAE; as well as acquisition of Air Liquide’s majority share in Middle East Carbon Dioxide (MECD), a joint venture with Almo Holdings, for a liquid carbon dioxide (CO2) production facility in Bahrain.
Financial terms are not being disclosed for the agreement.
“The acquisition builds on many years of good experience working in and serving customers in the Middle East and supports our growth strategy for the region,” commented Hamid Sabzikari, vice president and general manager, Air Products Industrial Gases Middle East, Egypt and Turkey.
“It is yet another example of how Air Products is building and strengthening its industrial gas business in the Middle East. In acquiring these businesses, we have further expanded our footprint and regional presence in the UAE and Bahrain, strengthened our product sourcing and reliability, and welcomed talented and dedicated people into our Middle East organization who are passionate about serving local customers.”