By Jemima Owen-Jones2017-04-28T09:05:00+01:00
Air Liquide has announced that it has signed an agreement with Lincoln Electric France SAS, subsidiary of Lincoln Electric Holdings, Inc. to sell Air Liquide Welding, its subsidiary specialised in the manufacture of welding and cutting technologies.
This agreement follows the exclusive negotiations agreement announced on the 2nd March 2017 with Lincoln Electric, the world leader in design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment.
The completion of the transaction is subject to obtaining the usual regulatory approvals, including competition authorities’ approval.
Both parties expect the transaction to be completed in the second half of 2017.
Air Liquide is focused on its Gas & Services activities following the acquisition of Airgas, as well as on the implementation of its company programme NEOS for the 2016-2020 period.
Air Liquide Welding is a key player in the manufacturing of welding and cutting technologies and generated a turnover of around €350m ($368m) in 2016. The move, if successful, would complement Lincoln Electric’s leading position in the welding product manufacturing sector.
Welding product manufacturer Lincoln Electric Holdings, Inc. has entered into exclusive negotiations to acquire Air Liquide’s welding business.
Lincoln Electric Holdings, Inc. has promoted Steven B. Hedlund to Executive Vice-President and President of the International Welding segment.
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