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Form 8-K · Current Report · Filed 2024-09-30

Air Products Completes $1.81 Billion Sale of LNG Business to Honeywell

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.

Filer
Air Products and Chemicals Inc. APD · NYSE
Filed
Accession
0001193125-24-228454
CIK
0000002969
Signal
High impactBasic Materials

Items reported

Item 7.01

Regulation FD Disclosure

Regulation FD Disclosure
Item 8.01

Other Events

Major Legal Settlement
Item 9.01

Financial Statements and Exhibits

No viable tag

Market reaction

Close before filing

$300.36

Next session

-3.0%

Since filing

-1.8%

Latest close

$294.89

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from APD reporting the same item, with the next session's move:

Exhibits (1)

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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