Air Products announced that it has acquired Air Liquide’s industrial gases business in the UAE and Air Liquide’s majority share in MECD joint venture in Bahrain.
Financial terms are not being disclosed for the agreement.
Air Liquide Emirates business is part of Industrial Gases LLC (ALEMIR) and Orca Industrial Gases LLC, which includes liquid bulk, packaged gases and specialty gases of Air Liquide in the UAE.
Air Liquide’s majority share in Middle East Carbon Dioxide W.L.L (MECD) is a joint venture with ALMO Holdings CO W.L.L, for a liquid carbon dioxide (CO2) production facility in Bahrain.
“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.”