Air Products buys 25 pc stake in Saudi gas equipment firm

Air Products buys 25 pc stake in Saudi gas and equipment firm

10:21 PM, 29th September 2011
Air Products buys 25 pc stake in Saudi gas and equipment firm
Howard Castle-Smith, Vice President and General Manager, Europe and the Middle East, Air Products.

 

LEHIGH VALLEY, US: Air Products will buy a 25 per cent ownership stake in privately owned Saudi company, Abdullah Hashim Industrial Gases & Equipment Co Ltd, a division of the privately owned Abdullah Hashim Group.

Abdullah Hashim Industrial Gases & Equipment is the largest private industrial gas company in Saudi Arabia. The terms of the deal were not disclosed by the companies. Also the deal is subject to regulatory approval.

Buying the company will give Air Products the opportunity to expand its business in the Middle East, said Howard Castle-Smith, Vice President and General Manager, Europe and the Middle East, Air Products, in a statement.

“Merchant gases growth in Saudi Arabia is high and margins are strong, making it an attractive investment,” said Castle-Smith.

© WOC News

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Tronox to acquire Exxaro’s Mineral Sands operations

  OKLAHOMA CITY, US/PRETORIA, SOUTH AFRICA: Tronox Incorporated has agreed to acquire Exxaro’s mineral sands operations, which include Exx ...

Read more
BASF to sell fertilizer business to EuroChem for €700 million

  LUDWIGSHAFEN, GERMANY: BASF has signed a contract with EuroChem, Moscow, Russia, to sell its fertilizer activities in Antwerp, Belgium. BASF a ...

Read more
Lanxess to expand operations in the Netherlands

  LEVERKUSEN, GERMANY/SITTARD-GELEEN, THE NETHERLANDS: Lanxess is investing €12 million to convert 50 per cent of its ethylene propylene di ...

Read more
Air Products to supply industrial gases to Ineos bioenergy plant

  ALLENTOWN, US: Air Products has been awarded a contract to supply onsite oxygen, compressed dry air and nitrogen to Ineos Bio’s joint ve ...

Read more
Aramco awards Axens contract for Jazan refinery & terminal project

  DHAHRAN, SAUDI ARABIA: Saudi Aramco has selected Axens’ technologies for its Jazan refinery & terminal project. The refinery, schedu ...

Read more
LyondellBasell finds no buyers for Berre, France refinery

  ROTTERDAM, THE NETHERLANDS: LyondellBasell announced that the sales offering for the 105,000 barrels-per-day refinery in Berre, France has res ...

Read more