Air Products Sells European Unit (APD)
US supplier of specialty gas products, Air Products & Chemicals Inc. (NYSE: APD) is selling its European homecare business to The Linde Group for euro 590 million (about $750 million). The company’s CEO said this in the announcement: Over many…
US supplier of specialty gas products, Air Products & Chemicals Inc. (NYSE: APD) is selling its European homecare business to The Linde Group for euro 590 million (about $750 million). The company’s CEO said this in the announcement:
Over many years, our Continental European Homecare team has run a successful business, helping us to build several leadership positions. With the more recent trends towards concentrators and non-oxygen therapies, we feel it is no longer a natural fit with our core gases business. Our growth strategy lies in the energy, environmental and emerging markets in which we continue to see significant opportunities.
The company is also “assessing” its homecare businesses in the UK, Ireland, Brazil, and Argentina. The company said it will continue to operate these businesses and compete for new business.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
