By Rhea Healy2016-10-18T08:38:00+01:00
Linde Korea, a member of Tier One player The Linde Group, has signed a definitive agreement to acquire the onsite and bulk business of Air Liquide Korea.
Linde Korea will procure 10 gas production plants including all related storage tanks, equipment and supply contracts in the acquisition and will integrate Linde’s existing business portfolio synergies in the domestic market.
The 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 deal, of which financial details were not disclosed, is subject to mandatory approvals by the Fair Trade Commission of Korea.
Linde Korea, established in the North Gyeongsang Province in South Korea in 1988, has expanded its product and services portfolio across the country over the past 30 years. In the past decade alone, the corporation has invested around €300m ($329.6m) in industrial gas production facilities and equipment.
Air Liquide has accelerated the deployment of its hydrogen (H2) infrastructure in both Europe and Korea following a visit from Korean President, Park Geun-hye.
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