Air Products and Chemicals Inc.
Air Products Completes $1.81 Billion Sale of LNG Business to Honeywell
Summary
Air Products and Chemicals, Inc. completed the sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell International Inc. for $1.81 billion in cash. The divestiture is strategic and aligns with Air Products' focus on industrial gases and clean hydrogen growth. All related assets, intellectual property, manufacturing capability, and personnel have been successfully transferred to Honeywell.
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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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