Air Liquide Completes DIG Airgas Acquisition, Strengthens Position in South Korea
- The acquisition doubles Air Liquide's workforce in South Korea and aims for 900 million euros in combined sales.
- The industrial gas market in South Korea is ranked 4th globally and is expected to double by 2035.
- The deal includes nearly 20 projects, adding over 50 million euros in EBITDA by 2030.
- The acquisition is expected to be net profit accretive one year after integration.
Acquisition Overview
Air Liquide has completed the acquisition of DIG Airgas, a leading integrated gas company in South Korea. This strategic move doubles Air Liquide's workforce in the country and aims to achieve around 900 million euros in combined sales. The acquisition was completed ahead of schedule, contributing to the Group's performance sooner than anticipated.
Market Potential
South Korea's industrial gas market is currently ranked fourth globally and is projected to double by 2035. The country is strategically positioned to lead developments in sectors such as semiconductors, clean energy, mobility, and biopharma, which are rapidly expanding.
Synergies and Growth
The acquisition is expected to deliver significant synergies, including secured growth from an investment backlog of nearly 20 projects. These long-term contracts are projected to bring more than 50 million euros in additional EBITDA by 2030. Growth synergies will be further enhanced by deploying Air Liquide's technology and innovative solutions.
Financial Impact
The acquisition is anticipated to be net profit accretive one year after integration. Air Liquide's proven track record in integrating acquisitions and successful cooperation with local authorities facilitated the early completion of this operation.
Source: Air Liquide