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  • Air Products Completes Acquisition of GE’s Gasification Business and Technology
    édité le 06/08/2019 - Plus de news de "Air Products" - Voir la fiche entreprise de "Air Products"


Air Products Completes Acquisition of GE’s Gasification Business and Technology
Air Products announced it has completed the acquisition of General Electric Company’s (“GE”) gasification business from GE Power. Financial terms of the transaction are not being disclosed.

“The successful acquisition of the GE gasification technology further supports our long-term, strategic focus on gasification. This acquisition, combined with our other capabilities, gives us the ability to provide a complete solution to our customers, including financing, technology, engineering, construction, and operation of large syngas projects. We welcome the experienced and talented GE gasification team and look forward to supporting them to further grow the business,” said Seifi Ghasemi, chairman, president and chief executive officer at Air Products.

The gasification business acquired by Air Products includes GE’s share of its 50/50 joint venture (JV) with China Shenhua Coal to Liquid and Chemical Company, Ltd., a subsidiary of China Energy Group, a world-class energy company. The JV, formed in 2012, provides technologies for gasification projects in China.

The acquisition includes approximately 50 total employees, including employees of the JV.

In Air Products’ sale-of-gas business model, the company finances, builds, owns, operates and maintains the gas production plant so its customers can focus their attention and capital on their primary business. Examples of larger-scale, multi-billion-dollar gasification projects include the Lu’an, Juitai and Yankuang Group projects in China, as well as the Jazan project in Saudi Arabia.

About Air Products

Air Products (NYSE:APD) is a world-leading Industrial Gases company in operation for over 75 years. The Company provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the world’s leading supplier of liquefied natural gas process technology and equipment.

The Company had fiscal 2018 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $50 billion. Approximately 16,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world.

About GE

GE (NYSE:GE) drives the world forward by tackling its biggest challenges: Energy, health, transportation—the essentials of modern life. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE’s mission and deliver for our customers.


Origine : Communiqué Air Products

Voir la fiche entreprise de "Air Products"



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