By Rhea Healy2016-09-08T16:45:00+01:00
Air Liquide has confirmed that it is evaluating the possible sale of its subsidiary Aqua Lung, representing the latest round of divestment discussions for the corporation.
The French industrial gas giant has revealed that preliminary considerations had commenced, although a spokesperson at Air Liquide advised, “There can be no assurances that any of these discussions will result in an agreement or that a transaction will be completed.”
Air Liquide claims the divestment would “best support Aqua Lung’s next phase of growth and enable it to deliver on its strategic roadmap,” as well as helping to implement its own development strategy NEOS for the 2016-2020 period.
Since its $13.4bn acquisition of Airgas in May, the Tier One corporation has increased its focus on its Gas & Services activities, which Air Liquide hinted as being the reason behind the latest divestment discussions. Its Airgas takeover increased Gas & Services sales in the US by 30% as well as firmly establishing Air Liquide as the largest player in the North American market.
Aqua Lung is a major player in personal aquatic equipment for both recreational and professional use. The company generated around €200m ($225m) in revenue in 2015 and in is present in over 90 countries.
Welding product manufacturer Lincoln Electric Holdings, Inc. has entered into exclusive negotiations to acquire Air Liquide’s welding business.
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