One of the main European financial services companies has described Air Liquide as ‘the most resilient player’ in the industrial gases sector.

Until financial results are published by those companies involved in the industrial gases industry it is unclear just how affected they have been, and will be, by the global economic downturn.

One company however, is expected to keep its head above water in comparison to some of its competitors.

According to Dow Jones; the financial service company Société Générale (SocGen) has said it sees Air Liquide’s full year net income to be up 3.7%.

Describing the world leader in industrial and medical gases as ‘the most resilient player in the well-placed industrial gas sector’, SocGen said that around 70% of Air Liquide’s gases earnings having some level of protection, more than the company’s peers.

Dow Jones noted how Air Liquide is still considered to be defensive due to its long-term, take-or-pay contracts, and the fact that many of its products are indispensible to industry.