Air Products and Chemicals Inc.
Honeywell to Acquire Air Products’ LNG Business for $1.81 Billion
Summary
On July 10, 2024, Honeywell International Inc. announced the acquisition of Air Products and Chemicals, Inc.'s liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in cash. The transaction, expected to close before the end of the calendar year, will bolster Honeywell's energy transition solutions. Air Products will focus on its industrial gas business and clean hydrogen initiatives.
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About Air Products and Chemicals Inc.
Air Products and Chemicals Inc. is a prominent player in the industrial gases sector, providing essential products that serve a myriad of industries worldwide. This global entity specializes in offering atmospheric gases, process, and specialty gases, equipment, and related services to a diverse range of clients, including those in energy, transportation, and technology sectors. Notably, Air Products is a leader in supplying hydrogen and helium solutions, which are critical for refining, aerospace, and electronics manufacturing. The company's liquid hydrogen production plays a significant role in advancing clean energy solutions, such as hydrogen fuel cells for vehicles. Founded in 1940 and headquartered in Allentown, Pennsylvania, Air Products maintains a significant presence in over 50 countries. Its commitment to sustainability and innovation makes it a vital contributor to the global shift towards greener industrial processes and cleaner energy solutions. By maintaining a robust infrastructure of production and distribution, Air Products ensures the secure and efficient delivery of vital industrial gases, underscoring its critical role in numerous sectors that depend on reliable and sustainable supply chains.
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