Air Liquide to divest its dedicated gases complex to Fujian Shenyuan
June 13, 2019
Air Liquide China has entered into an agreement to sell to its client Fujian Shenyuan New Materials Co. Ltd, its subsidiary Air Liquide Fuzhou Co. Ltd. which owns and operates the integrated gas complex in Fujian (Southeast China).
This transaction will reinforce the ability of Air Liquide S.A. (Paris, France; www.airliquide.com) to invest in its main industrial basins, including in China, and to focus on other high potential activities. This decision is also in line with Air Liquide’s climate objectives.
The industrial gases complex sold includes a coal-gasification unit in addition to an air separation unit, a synthetic-gas-purification unit and an ammonia plant.
This decision is aligned with Air Liquide’s strategy to focus on its main industrial basins and other high potential activities, notably in China. It is also aligned with the Group’s Climate Objectives.
This transaction will have a limited unfavorable one-off impact on 1st half 2019 net profit, the full year guidance being maintained.
This transaction between Air Liquide China and Highsun Holding Group — parent company of Fujian Shenyuan — is expected to close in Q3 2019, subject to closing conditions.
By Gerald Ondrey
Source: Chemical Engineering