Air Liquide completes 75% share acquisition of LOGIKA – a regional industrial gas producer for bulk and packaged gases for industrial and medical markets.
The remaining 25% of Moscow-based LOGIKA will continue to be owned by Ruselectronics, a subsidiary of the State Corporation Rostechnologii.
Guy Salzgeber, Vice-President North and Central Europe and member of the Air Liquide Executive Committee, commented: “This partnership with a major industrial player will strengthen our position in Russia, especially in the Moscow area. It illustrates our strategy of focusing geographic expansion on key growth regions.”
Salzgeber continued, “This agreement is consistent with the Group’s long-term strategic development program in Russia, with investments of €1bn planned by 2015. Developing economies are one of the growth drivers of the Group.”
Following the acquisition, Air Liquide will invest €40m in a new Air Separation Unit, which will produce liquid oxygen and nitrogen in a new cylinder filling centre. According to the French owned industrial gas magnate, this deal with Ruselectronics constitutes a ‘first step’ in the partnership between Air Liquide and the State Corporation Rostechnologii.
Alexey Alyoshin, First Deputy General Director of Rostechnologii, stated, “This partnership will create an opportunity to implement leading technologies in Russia, which are practiced by Air Liquide, the world leader in its field. It is an opportunity for Logika to reach a new technological level in short terms, which will meet the needs of State Corporation Rostechnologii of high quality industrial gases with mutual benefit.”
Russia: According to Air Liquide
Russia is a growing economy in the process of modernising its industrial production infrastructure. Fast growing markets such as metal, automotive, welding, glass and food require increasing amounts of gases. The Moscow area shows great potential. It accounts for about 15% of Russia’s total population and more than 20% of the country’s manufacturing sector, and is also the center of the Russian electronics and high-tech industries. The market for medical gases is also attractive and growing.