Air Liquide is pleased to announce that effective from May 31, 2007, the business activities of Linde Gas UK have been transferred to the Air Liquide Group.
Klaus Schmieder, Senior executive vice-president of the Air Liquide Group, stated, $quot;Air Liquide will integrate the existing UK operations in an enlarged business, to grow and strengthen our position as a key player in the UK industrial and medical gases markets.$quot;
The transaction is based on an enterprise value of â‚¬105m. This acquisition will have an immediate and positive impact on the Group's results and allow Air Liquide to almost double the size of its UK operation.
Mr Schmeider also described his optimism over the project saying, $quot;It will also enable us to increase our ambitions in this market through more rapid deployment of our Group's overall resources and expertise.$quot;
The company says this new business is very complementary with Air Liquide activities saying, $quot;The acquisition of additional production units will enable Air Liquide to provide a wider range of products and services to key industry sectors and enhance its capabilities significantly.$quot;