Air Liquide to Invest 60 Million Euros to Support the Development of Wanhua Chemical Group in China
L'AIR LIQUIDE SA UNSP/ADR (AIQUY)
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Source: Business Wire
PARIS--(BUSINESS WIRE)--Regulatory News:Air Liquide (Paris:AI) will invest close to 60 million euros to take over and operate an Air Separation Unit (ASU) within the context of a long-term contract with Wanhua Chemical Group (Wanhua), a global leading supplier of chemical innovative products, in the city of Yantai, China. In this context, Air Liquide will also build, own and operate a new liquid argon production unit on this ASU - built by Air Liquide Engineering & Construction - to serve Industrial Merchant markets in Yantai and the wider province of Shandong. This long-term contract, the first signed by the Group with Wanhua, will allow Air Liquide to start supplying industrial and medical gases in the city of Yantai and to reinforce its presence in the region of Shandong.Within the context of this new partnership, Air Liquide will provide large amounts of nitrogen and oxygen to Wanhua. Building on synergies around this ASU, which is set to be operational at the end of 2024, Air
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