Sector News

Linde, Praxair CFOs to meet soon to sort out engineering unit rift

October 31, 2017
Chemical Value Chain

The finance chiefs of industrial gases groups Linde and Praxair will meet soon to sort out a row over the future of Linde’s engineering division after the planned merger of the two companies, Linde’s chief executive said on Friday.

Praxair’s CFO Matthew White, who is likely to become finance chief of the combined group, was reported on Thursday to have told investors that the plant-engineering unit, along with U.S. medical gases division Lincare, could be divested.

Linde says they will remain part of the group for now.

“We haven’t talked to Mr White but… (Linde CFO Sven) Schneider is going to meet Mr White soon and surely we are going to challenge him about this statement in order to give him a chance to build up trust again,” Linde CEO Aldo Belloni told a news conference.

By Georgina Prodhan

Source: Reuters

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