Linde Korea, a member of Tier One player The Linde Group, has finalised the takeover of Air Liquide Korea’s industrial merchant and electronics onsite and liquid bulk air gases business in South Korea.
After gasworld first broke news of the contract in October when both parties had engaged in ‘definitive agreement’ discussions, Linde Korea has now confirmed the completion of the deal, of which financial details were not divulged.
In the transaction, Linde Korea has procured 10 gas production plants including all related equipment and supply contracts. It includes the transfer of the related operating sites for the onsite plants as well as tanks and related equipment for liquid storage.
This onsite and bulk business takeover complements Linde’s strategy of growing its direct bulk supply and electronic, chemical and industrial manufacturing customer base in the North Pacific rim country.
”The acquired industrial merchant and electronics onsite facilities will…support the growth intentions of major markets, particularly in the electronics sector”
Sanjiv Lamba, Chief Operating Officer for Asia Pacific and Member of the Executive Board of Linde AG
Sanjiv Lamba, Chief Operating Officer for Asia Pacific and Member of the Executive Board of Linde AG, underlined the significance of the successful acquisition, stating, “The acquired industrial merchant and electronics onsite facilities will further strengthen our existing extensive network of sites and customer density in South Korea, and support the growth intentions of major markets, particularly in the electronics sector.”
Steven Fang, Regional Business Unit Head, East Asia, The Linde Group, reinforced, “Our track record of investments in South Korea underscores our long-term commitment to expand our business in the region.”
According to gasworld Business Intelligence, the industrial gas market in South Korea was worth approximately $1.8bn in 2015. Research Analyst Toby Pimlott explained, “Linde are currently the fourth largest industrial gas company in the region, commanding a market share of around 13%. This acquisition will expand Linde’s presence in the largest end-user market in the country as the plants involved in the acquisition mainly service the electronics sector.”
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