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Oil & Gas

Air Products to buy Polish gas business for $481 million

January 09, 2007
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Industrial gas supplier Air Products & Chemicals Inc. is buying the industrial gas business BOC Gazy Sp z o.o. from the Linde Group for $481 million, the Associated Press reports. Air Products said it will finance the deal through debt. Germany''s Linde was required to sell BOC Gazy for regulatory purposes as part of its purchase of British gases company BOC Group PLC in September, a $14.9 billion deal that made Linde the world''s biggest industrial gas company. Poland-based BOC Gazy has about 750 workers, five major industrial gas plants and six cylinder transfills. It had fiscal 2006 sales of approximately $164 million. The acquisition is subject to regulatory approval and customary closing conditions.

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