Air Liquide has completed the sale of Air Liquide Welding, its subsidiary specialised in the manufacture of welding and cutting technologies, to Lincoln Electric France SAS, a subsidiary of Lincoln Electric Holdings, Inc.
The sale follows the signed agreement announced on 27th April (2017) with Lincoln Electronic, the world leader in design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxyfuel cutting equipment, and the related usual regulatory approvals, including competition authorities’ approval.
Air Liquide is focused on its Gas & Services activities following the $13.4bn acquisition of Airgas last year, as well as on the implementation of its company program 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 will complement Lincoln Electric’s leading position in the welding product manufacturing sector.