Air Liquide sells its Industrial Merchant activity in Saudi Arabia to focus on other activities. The company says it is focusing on other activities, related to the energy transition such as hydrogen, in the Middle East region.
Sale of Air Liquide’s Industrial Merchant activities
Air Liquide announces the sale of its Industrial Merchant activity in Saudi Arabia. The company is selling its business to Abdullah Hashim Industrial Gases & Equipment, the joint venture of Air Products. In addition, this transaction includes the company’s share in the Khafra Industrial Gases (ALKIG) business.
Air Liquide’s announcement completes the sale announced in April. The French industrial group indicated that it would sell the industrial activity in the United Arab Emirates and Bahrain to the Air Products group. However, it is not significant in relation to the French company’s overall portfolio in the Africa, Middle East and India region.
The Middle East, a promising market
This sale is part of the group’s strategy to regularly review its asset portfolio. In addition, Air Liquide is focusing on selected fast-growing areas and activities. In addition, as a result of this divestment, 228 employees of this business joined Abdullah Hashim Industrial Gases & Equipment.
Air Liquide is positioning itself to increase its presence in the Gulf Cooperation Council (GCC) region. Thus, the French company is particularly present in Saudi Arabia, in large-scale industry and health.
The company is also looking to seize opportunities in the areas of energy transition and the development of low-carbon hydrogen.
