Air Liquide sells GT&S, LP packaged gas unit in the U.S.
Air Liquide has sold its 90% interest in packaged gas unit GT&S, LP, a subsidiary of recently acquired Messer Griesheim Industries Inc. in the United States. GT&S offers packaged gases, welding products and small bulk gases. The business operates a gas filling and distribution network in the Eastern U.S., with nearly 360 employees serving over 21,000 customers.
The interest in GT&S has been purchased by an entity controlled by the previous minority owner of GT&S, for a sum close to annual sales which were approximately $80 million dollars in 2003. This transaction was completed for strategic reasons and is in addition to the divestitures mandated by the Federal Trade Commission as part of Air Liquide's acquisition of Messer Griesheim's operations in the U.S.
The agreement includes a commitment by GT&S to purchase bulk air gases exclusively from Air Liquide under a multi-year agreement. Air Liquide also retains three GT&S activities that are not part of the sale: a specialty gas plant (Houston, Texas), a hydrogen and helium transfill located within GT&S, LP's Fairless Hills, Pennsylvania facility and an environmental calibration gas business. These three activities represent annual sales of approximately $4 million dollars.
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