Air Liquide announces it signed today an agreement with Lincoln Electric France SAS, subsidiary of Lincoln Electric Holdings, Inc. (“Lincoln Electric”) (Nasdaq: LECO), to sell Air Liquide Welding, its subsidiary specialized in the manufacture of welding and cutting technologies. This agreement follows the exclusive negotiations agreement announced on March 2nd 2017 with Lincoln Electric, the world leader in design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment.
The completion of the transaction is subject to obtaining the usual regulatory approvals, including competition authorities’ approval.
Both parties expect the transaction to be completed in the second half of 2017.
Air Liquide is focused on its Gas & Services activities following the acquisition of Airgas, as well as on the implementation of its company program NEOS for the 2016-2020 period.
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