French industrial gas supplier Air Liquide SA said Tuesday it had begun exclusive talks to sell its scuba diving-equipment-making unit Aqua Lung to Montagu Private Equity.
Air Liquide and Montagu didn’t disclose the price under negotiation.
The sale is part of an asset restructuring at Air Liquide following its $13 billion acquisition of U.S. rival Airgas earlier this year.
Aqua Lung, which was founded in the 1940s by the late French conservationist Jacques-Yves Cousteau, has 1,000 employees in around 90 countries. Its revenue in 2015 totaled 200 million euros ($224 million).
By Inti Landauro
Source: Market Watch
The future CEO of thyssenkrupp Uhde, Nadja Håkansson, has held various management positions at Siemens and Siemens Energy and looks back on over 18 years of national and international experience in the areas of supply chain management, operations, sales and corporate management.
Neste and South Korean company Lotte Chemical have partnered on a project to elevate the sustainability profile of chemicals and plastics. The partnership’s ambition is to replace fossil resources with renewable raw materials that offer a lower carbon footprint.
At least the confidence in the chemical sector has been seeing an upward trend and the trade balance is recovering as destocking seems to be coming to an end. Citing projections from the European Central Bank, CEFIC states that the level of inflation is expected to fall from 5.4% in 2023 to 2.3% in 2024.
