Sector News

Air Liquide to divest its dedicated gases complex to Fujian Shenyuan

June 13, 2019
Chemical Value Chain

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

comments closed

Related News

May 15, 2022

New York’s EPR and packaging reduction bills lauded as game-changers in plastic pollution battle

Chemical Value Chain

The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.

May 15, 2022

Borealis and Reclay launch entity focused on lightweight packaging 

Chemical Value Chain

The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.

May 15, 2022

Starbucks and Hubbub launch reusable packaging fund as COVID-19 diminishes consumer appetite

Chemical Value Chain

Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.