Linde has announced its plans in the wake of the newly-completed merger between Linde and the BOC Group. This merger will create the world's largest industrial gas and engineering company with an annual pro forma turnover of approximately â‚¬12.7 bn, operating profit (EBIT) of â‚¬1.6bn and approximately 53,000 employees worldwide.
The new company is to trade under the name of \\$quot;˜The Linde Group\\$quot;. The name change applies to the group only. On the operating level, the Linde and BOC brands will remain unchanged.
\\$quot;˜The Linde Group\\$quot; will have its head office in Munich, Germany which is also the location of the Executive Board. Some supporting functions will be located in Surrey, UK, close to the current head office of the BOC Group.Senior management team of the new company
The management team of \\$quot;˜The Linde Group\\$quot; comprises 5 members:
\\$quot;¢ Dr Wolfgang Reitzle (57)
, CEO of Linde AG leads the team. The Group's global functions also report directly to Professor Reitzle who is also responsible for the logistics division, Gist.
\\$quot;¢ Dr. Aldo Belloni (56)
, member of the executive board of Linde AG, is in charge of the Europe and Middle East regions as well as for the Global Business Unit Healthcare. He also manages the Engineering division and is responsible for Innovation Management.
\\$quot;¢ Kent Masters (45)
, previously on the board of BOC, BOC with responsibility for the Line of Business ISP, will take charge of the Americas and Africa, as well as of the On-site global business unit and the Liquid Gases business.
\\$quot;¢ Trevor Burt (48)
, until now responsible at BOC for North America, will manage the Asia/Pacific region as well as for the Packaged Gases and Electronics Gases businesses.
\\$quot;¢ Georg Denoke (41)
, will be in charge of finance comprising Controlling, Financial Statements, Treasury, Taxes, Mergers & Acquisitions and Procurement. Up to now, Mr. Denoke has been responsible for finance at Linde Gas. He follows Dr. Peter Diesch.
\\$quot;¢ Dr. Peter Diesch (51)
will be leaving the company of his own volition at the end of the year, and will remain on the board of Linde AG as before and support the sale or initial public offer of the company's Material Handling business segment.Business changes
Amongst other changes The Linde Group intends to divest the equipment businesses but retain the bulk and electronic gases elements of BOC Edwards and integrate them into the Group organisation. BOC Edward\\$quot;s total revenues up until September 2005 were approximately â‚¬800m.
In parallel with the merger with BOC, Linde AG has made the Material Handling business segment legally independent, by grouping the three brands Linde, STILL and OM in a new holding company \\$quot;“ \\$quot;˜KION Group\\$quot;.
With over 19,000 employees, the three brands Linde, STILL and OM recorded a total turnover of â‚¬3.6bn and an operating profit of â‚¬223m in fiscal 2005. The new holding company will be located in Wiesbaden.
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