Air Liquide China has entered into an agreement to sell its subsidiary Air Liquide Fuzhou Co. Ltd. to Fujian Shenyuan New Materials Co. Ltd.
Air Liquide Fuzhou owns and operates the integrated gas complex in Fujian (Southeast China). The industrial gases complex sold includes a coal gasification unit, an air separation unit, a synthetic gas purification unit and an ammonia plant.
The decision is aligned with Air Liquide’s strategy to focus on its main industrial basins and other high potential activities, as well as the Tier One company’s climate objectives.
The transaction between Air Liquide China and Highsun Holding Group – parent company of Fujian Shenyuan – is expected to close in Q3 (2019), subject to closing conditions.
The transaction will have a limited unfavourable one-off impact on first half 2019 net profit, the full year guidance being maintained.
Air Liquide has expanded its utilities supply agreement with LyondellBasell for its new propylene oxide (PO) and tertiary butyl alcohol (TBA) project in the Houston area.
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