Linde has acquired a majority stake in Airtec to increase its industrial and speciality gases production footprint in the Middle East, the company announced on Monday.
The deal increases Linde’s shareholding in Airtec to more than 90% from the 49% held previously, and expands its presence in GCC countries, including Bahrain, Kuwait, Qatar, Saudi Arabia and the UAE.
Airtec is a manufacturer and supplier of industrial and speciality gases to the energy, manufacturing and healthcare industries. The acquisition will add to Linde’s operational assets in the region, which include air separation units, carbon dioxide plants and associated infrastructure.
“Airtec’s footprint is highly complementary to Linde’s existing business. The acquisition creates a diversified and integrated business that will benefit from significant synergies, while strengthening supply chain reliability and customer service,” said Oliver Pfann, Linde’s senior vice-president, EMEA.
Together with SLB and Saudi Aramco, Linde is building one of the world’s largest CCS hubs in Jubail. Saudi Arabia. The facility will be able to capture up to 9 million tonnes of carbon dioxide per year in its initial operational phase, expected to begin at the end of 2027.
For more about Linde’s CCS and hydrogen investments in the Middle East, read our interview with Steffen Richter, managing director and head of Middle East/Turkey Cluster, and Uwe Zwiefelhofer, managing director in the UAE and head of MENA, here.
Source: Theenergyyear.com