Air Liquide to Invest 60 Million Euros to Support the Development of Wanhua Chemical Group in China
September 26 2024 - 2:45AM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) will invest close to 60 million euros
to take over and operate an Air Separation Unit (ASU) within the
context of a long-term contract with Wanhua Chemical Group
(Wanhua), a global leading supplier of chemical innovative
products, in the city of Yantai, China. In this context, Air
Liquide will also build, own and operate a new liquid argon
production unit on this ASU - built by Air Liquide Engineering
& Construction - to serve Industrial Merchant markets in Yantai
and the wider province of Shandong. This long-term contract, the
first signed by the Group with Wanhua, will allow Air Liquide to
start supplying industrial and medical gases in the city of Yantai
and to reinforce its presence in the region of Shandong.
Within the context of this new partnership, Air Liquide will
provide large amounts of nitrogen and oxygen to Wanhua. Building on
synergies around this ASU, which is set to be operational at the
end of 2024, Air Liquide will also serve nitrogen, oxygen and argon
to the local Industrial Merchant markets.
This partnership allows Air Liquide to start supplying
industrial and medical gases in the city of Yantai, the second
largest industrial city in Shandong. The Group is thus reinforcing
its already strong presence in the province of Shandong, China's
third-largest provincial economy, where it already owns and
operates four ASUs, a hydrogen production plant, a filling center,
as well as a state-of-the-art manufacturing center that produces
ASUs and hydrogen production units.
Ronnie Chalmers, Air Liquide Group Vice President
supervising Asia Pacific: “We are proud to become a strategic
partner of Wanhua, a world class chemical group with a strong
presence in China and a global outreach. This long-term contract is
a strong recognition of Air Liquide’s technological expertise and
competitiveness but also of its operational excellence. Becoming a
supplier of industrial gases in the city of Yantai will allow us to
serve not only a dynamic new partner but also to expand to new
Industrial Merchant and healthcare markets. This new venture will
actively contribute to our 2025 ADVANCE strategic plan.”
Liao Zengtai, Chairman of Wanhua Chemical Group, said:
"This cooperation with Air Liquide in Penglai further deepens our
strategic partnership, drives both parties to move towards a new
stage of long-term development, and lays a solid foundation for
achieving more fruitful results in the future.”
Air Liquide in
China
Air Liquide in China operates more than
120 plants and employs nearly 5,600 employees. With a strong
presence in the key coastal industrial areas, Air Liquide is now
expanding into the center, south and west. Its main business
activities include industrial and medical gas operations, home
health service, Engineering & Construction (designing,
manufacturing and installing air separation units/hydrogen
facilities), as well as Innovation activities.
Air Liquide is a world leader in gases,
technologies and services for industry and healthcare. Present in
60 countries with 66,300 employees, the Group serves more than 4
million customers and patients. Oxygen, nitrogen and hydrogen are
essential small molecules for life, matter and energy. They embody
Air Liquide’s scientific territory and have been at the core of the
Group’s activities since its creation in 1902.
Taking action today while preparing the
future is at the heart of Air Liquide’s strategy. With ADVANCE, its
strategic plan for 2025, Air Liquide is targeting a global
performance, combining financial and extra-financial dimensions.
Positioned on new markets, the Group benefits from major assets
such as its business model combining resilience and strength, its
ability to innovate and its technological expertise. The Group
develops solutions contributing to climate and the energy
transition—particularly with hydrogen—and takes action to progress
in areas of healthcare, digital and high technologies.
Air Liquide’s revenue amounted to more
than 27.5 billion euros in 2023. Air Liquide is listed on the
Euronext Paris stock exchange (compartment A) and belongs to the
CAC 40, CAC 40 ESG, EURO STOXX 50, FTSE4Good and DJSI Europe
indexes.
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version on businesswire.com: https://www.businesswire.com/news/home/20240925560722/en/
Corporate Communications media@airliquide.com
Investor Relations IRTeam@airliquide.com
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