Industrial gases producer and supplier Air Products & Chemicals Inc. has revealed it is in advanced discussions with Wacker Chemie AG regarding the firm’s purchase of Air Products’ stakes in their 2 joint venture projects.

The US gases giant owns a 65% stake in Air Products Polymers and a 20% stake in Waker Polymer Systems, while Wacker owns the remaining interests in the joint ventures.

Air Products announced its intention to sell its shareholdings in the businesses back in March 2006, though the deal is still subject to final agreements and approval by the supervisory bodies of both companies.