The gas suppliers have joined together to create a new Linde. It will now fully integrate its business globally.
Steve Angel, Chief Executive Officer at Linde, said: “It is a privilege for me to lead the talented people of two world-class organizations as we come together to form the undisputed leader in our industry. I am confident this team will create long-term value for all Linde stakeholders.”
Restrictions under the hold separate order issued by the US Federal Trade Commission was lifted following the completion of certain required divestitures in the US. The merger legally closed on 31st October 2018.
It will provide a platform that harnesses both companies’ potential and delivers new value to stakeholders.
The combined companies aim to create a leader in the industrial gas industry.
The partnership aims to establish strong, complementary positions in key geographies to create a more diverse and balanced end market portfolio.
It looks to leverage the strengths of each company, such as Linde’s longstanding leadership in engineering and technology and Praxair’s operational excellence.
It aims to create an innovation powerhouse by bringing together both companies’ research & development competencies, well positioned to both develop innovative solutions and to deliver them to the markets.
The merger is also expected to create considerable value in annual cost and efficiency synergies, resulting in a robust balance sheet and strong cash flow generation.
Pictured: Steve Angel, Chief Executive Officer at Linde