Air Liquide completes acquisition of Middle Eastern company


Air Liquide has completed the acquisition of Al Khafrah Industrial Gases, a company headquartered in Riyadh, Saudi Arabia, which has operations in both Riyadh and Dammam.

The industrial and medical gas market in the Kingdom of Saudi Arabia, the largest economy in the Middle East, presents an attractive growth potential for Air Liquide, with double-digit growth in 2008, driven by the expansion of the petrochemical industry and the development of infrastructure projects.

The new venture will see Sheikh Mubarak Al Khafrah, one of the founders and former chairman of Al Khafrah, contributing to the expansion of the newly incorporated company, which will be named Air Liquide Al Khafrah Industrial Gases.

With more than US$20m of sales in 2008 and around 100 employees, Al Khafrah’s main business activities include the manufacturing, the sale of packaged gases (oxygen, nitrogen, argon, acetylene, etc) and bulk air gases.

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