Air Liquide Acquires Linde Gas UK |
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Air Liquide America Corp.
18222 E. Petroleum Dr.
Baton Rouge, LA, 70809
USA
Press release date: March 8, 2007
Air Liquide announces the purchase of Linde Gas UK. The transaction is based on an entreprise value of 105 million euros, and its completion is subject to approval by the European competition authorities.
Linde Gas UK has total revenues of around 60 million euros derived from a very diversified industrial, medical and homecare customer base throughout the UK.
This acquisition will have an immediate and positive impact on the Group's results.
Air Liquide entered the UK market in 2004, following the acquisition of the local Messer operations. Air Liquide UK and Linde Gas UK have very complementary businesses, offering significant synergies and this acquisition will help Air Liquide to almost double the size of its activities and become a significant player in the UK. In addition, 30% of the acquired activities are in the medical gases and the homecare services markets, a key Air Liquide growth driver and one in which the Group is currently not present in the UK.
Benoît Potier, Chairman and Chief Executive Officer of the Air Liquide Group, stated: "This acquisition reinforces our position in the UK and constitutes a new development for the Group in Europe, giving us access to the UK hospital and homecare markets and strengthening our existing Industrial Merchant activities. This significant extension of our presence in the UK allows us to increase our ambitions in this market through more rapid deployment of our Group's overall resources and expertise."
Present in 72 countries, Air Liquide is a world leader in industrial and medical gases and related services. The Group offers innovative solutions based on constantly enhanced technologies. These solutions, which are consistent with Air Liquide's commitment to sustainable development, help to protect life and enable our customers to manufacture many indispensable everyday products. Founded in 1902, Air Liquide has near 37,000 employees. The Group has successfully developed a longterm relationship with its shareholders built on trust and transparency and guided by the principles of corporate governance. Since the publication of its first consolidated financial statements in 1971, Air Liquide has posted strong and steady earnings growth. Sales in 2006 totaled 10,949 million euros, with sales outside France accounting for almost 80%. Air Liquide is listed on the Paris stock exchange and is a component of the CAC 40 and Eurostoxx 50 indices (ISIN code FR 0000120073).
For further information, please contact: Corporate Communication Dominique Maire �� + 33 (0)1 40 62 53 56 Corinne Estrade-Bordry �� + 33 (0)1 40 62 51 31 www.airliquide.com
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