Air Liquide sells Messer Griesheim divestitures assets in the United States

19 octobre 2021 Pierre Perrin-Monlouis

The Air Liquide Group has completed a satisfactory agreement with Matheson Tri-Gas, Inc. (a subsidiary of Nippon Sanso) for the sale of liquid gas activities to be divested in the United States in the context of the acquisition of certain assets of Messer Griesheim.

The divestiture, which represents around USD 60 million of sales in the United States, complies with the Consent Order signed on April 29, 2004, between Air Liquide and the FTC, to meet anti-trust requirements. The transaction involves mainly liquid gas and distribution activities, as well as certain on-site contracts in the southern and western parts of the country (see list below).

The divestiture proceeds amount to USD 155 million; it represent a sales multiple approximately equivalent to that of the acquisition price and will be accounted for in Air Liquide 2004 results. The parties will have to obtain final approval from the FTC. The acquirer, Matheson Tri Gas, is a significant player in the industrial gas market in the South of the US. Its offer attracted Air Liquide’s attention because of the strategic fit of existing business with the assets to be divested which further increases its competitiveness.

Benoît Potier, Chairman of Air Liquide’s Management Board, stated:
“This divestiture was completed swiftly, according to our initial plan and under satisfactory conditions for both parties. The retained portion of Messer Griesheim’s U.S. operations, along with Air Liquide’s other U.S. operations, will establish the Group as a national player in the United States, with total pro forma 2003 sales of approximately 1.8 billion euros.”

List of activities divested:
-Irwindale – California (near Los Angeles)
-Vacaville – California (near San Francisco)
-Westlake (Lake Charles) – Louisiana
-Waxahachie – Texas (near Dallas)
-De Lisle – Mississippi (east of New Orleans)
-San Antonio – Texas


Present in 65 countries, Air Liquide is the world leader in industrial and medical gases and related services. The Group offers innovative solutions based on constantly enhanced technologies. These solutions, which are in line with Air Liquide’s commitment to sustainable development, help to protect life and enable our customers to manufacture many indispensable everyday products. Founded in 1902, Air Liquide has more than 31,900 employees. The Group has successfully developed a long-term relationship with its shareholders built on confidence and transparency and guided by the principles of corporate governance. Since the publication of its first consolidated financial statements in 1971, Air Liquide has posted strong and steady earnings growth. Sales in 2003 totaled 8,394 million euros, of which sales outside France accounted almost 80%. Air Liquide is listed on the Euronext Paris stock exchange and is a component of the CAC 40 and EuroStoxx 50 indexes (ISIN code FR 0000120073).

For more information please contact:

Investor Relations
Matthieu Baumgartner: +33 1 40 62 55 19
Carolione Morand: +33 1 40 62 55 41 Corporate Communication
Dominique Maire: +33 1 40 62 53 56
Joëlle Ambon: +33 1 40 62 51 31

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