South Korea: Linde Korea Completes Air Liquide Korea Acquisition Transaction in Korean Air Gases Business
Linde Korea, a member of The Linde Group, has completed the takeover of Air Liquide Korea’s industrial merchant and electronics on-site and liquid bulk air gases business in South Korea.
Seoul/South Korea — The ten sites under this agreement complement the group's existing presence and offerings in the country. With this agreement the company intends to underscore its focus on serving the demands for industrial air gas products in the electronics, chemicals and manufacturing industries.
Under this agreement, Linde Korea has completed takeover of Air Liquide Korea’s industrial merchant and electronics on-site and liquid bulk air gases business in South Korea. It includes the transfer of the related operating sites for the on-site plants as well as tanks and related equipment for liquid storage. In addition, the associated customer contracts have been transferred to Linde Korea, together with Air Liquide Korea employees who will continue to operate the plants and service customers.
Sanjiv Lamba, Chief Operating Officer for Asia Pacific and Member of the Executive Board of Linde, said “I am delighted that we have concluded the acquisition of Air Liquide's industrial merchant and electronics on-site and liquid bulk air gases business in South Korea. The acquired industrial merchant and electronics on-site facilities will further strengthen our existing extensive network of sites and customer density in South Korea, and support the growth intentions of major markets, particularly in the electronics sector. The acquisition is part of our strategy of delivering long-term sustainable profits in key markets in the region, and complements the recent investments we made in enhancing our R&D capabilities in Asia.”
Steven Fang, Regional Business Unit Head, East Asia, The Linde Group, said “Our track record of investments in South Korea underscores our long-term commitment to expand our business in the region. Our investments also reaffirm our commitment to key customers, including Korean conglomerates such as Samsung, LG, Lotte Chemical and SK Hynix, to support their growth plans, in South Korea and worldwide.”