Paris-based Air Liquide has agreed to sell certain assets in the United States to Matheson Tri-Gas Inc., a subsidiary of Taiyo Nippon Sanso Corp. of Tokyo, Japan. Terms were not disclosed.
Matheson has agreed to acquire 18 air separation units in 16 locations, two nitrous oxide production facilities, four liquid carbon dioxide production facilities in four states, including two dry ice production facilities, and three Airgas retail packaged welding gas stores in Alaska.
These divestitures would go toward satisfying the conditions required by the Federal Trade Commission in connection with Air Liquide’s recently closed acquisition of Airgas.
Air Liquide is also currently in negotiations to sell two of its facilities in Iowa that produce both liquid carbon dioxide and dry ice, which are the remaining assets ordered by the FTC to be divested in connection with Air Liquide’s acquisition of Airgas.
All assets to be sold under these divestitures generated revenues of approximately $270 million in 2015.