Air Liquide announced today that it has entered into an agreement to sell certain assets in the United States to Matheson Tri-Gas, Inc., a subsidiary of Taiyo Nippon Sanso Corporation of Tokyo, Japan.
Upon closing, these divestitures to Matheson would mark a significant milestone toward satisfying the conditions required by the Federal Trade Commission (“FTC”) in connection with Air Liquide’s recently closed acquisition of Airgas.
Under the terms of the purchase agreements, Matheson will acquire the following assets from Air Liquide:
In addition, Air Liquide is currently in negotiations to sell two of its facilities in Iowa that produce both liquid carbon dioxide and dry ice, which are the remaining assets ordered by the FTC to be divested in connection with Air Liquide’s acquisition of Airgas.
As previously indicated, all assets to be sold under these divestitures generated revenues of approximately $270 million for the year ended December 31, 2015. The Matheson transaction and the sale transaction for the Iowa plants remain subject to FTC approval and are expected to close in the third quarter of this year.
Under the terms of the purchase agreement, Matheson will acquire production facilities, equipment, inventory, distribution assets, and customer contracts. Matheson will also hire employees related to the divested assets upon closing of the transaction.
Michael J. Graff, Member of the Air Liquide Group’s Executive Committee and Executive Vice-President for the Americas, said: “We are pleased to have found a strong and qualified buyer for these assets, and are continuing to focus on the successful integration of our other operations in the United States with Airgas to deliver even greater value and service for customers, and contribute to the long-term profitable growth of Air Liquide.”
Source: Air Liquide
Dulux paint maker Akzo Nobel said on Thursday it had appointed Fredrik Westin as its chief financial officer from January 1, 2026. Westin will succeed Maarten de Vries, who is completing his second four-year term as finance chief and will retire from Akzo Nobel in April next year.
The acquisition aligns with Henkel’s global growth strategy in the Adhesive Technologies business unit and reflects a key milestone in expanding its footprint in emerging markets. It enables the company to accelerate its presence in South Africa – a region with strong demand for high-performance repair and protection technologies in critical industries.
BASF announces the appointment of Michael Roy as Managing Director of BASF (Malaysia) Sdn Bhd, effective July 1, 2025. He succeeds Vimala Arumugam, who will retire after a distinguished career with the company. Currently serving as Director of Human Resources for Performance Materials Asia Pacific, Michael Roy brings over a decade of experience with BASF.
