Air Liquide Completes Acquisition of Messer Griesheim's Activities in Germany, the United Kingdom and the United States.Business Editors PARIS--(BUSINESS WIRE)--May 7, 2004 On May 6, 2004, the Air Liquide
The Group completed this major acquisition, announced on January 20, 2004, within a very short time and thus without any penalties. The purchase represents an investment of 2.7 billion euros, before divestitures and after adjustment. In line with initial estimates, the net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight acquired after divestitures will be around 800 million euros. The divestitures required by the antitrust authorities amount to 23% of the total acquired sales. These divestitures will be completed as quickly as possible; several industrial companies have already indicated an interest in the businesses Air Liquide will be selling in Germany and the United States. The acquired businesses and their personnel are of high quality and effectively complement those of the Group. The current profit margin and cash flow levels of the combined operations For the department of the British War Office during World War II, see . In the military, combined operations are operations conducted by forces of two or more allied nations acting together for the accomplishment of a single mission. See also
In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 100 million, which means the acquisition will be earnings accretive in the first twelve months. Integration teams are already in place, and the senior management is in the process of being appointed. Mr Klaus Schmieder, currently Chairman of the Management Board of Messer Griesheim, will join the Air Liquide Group where he will have an important assignment. The acquisition will be entirely debt financed and funded from the financial markets and bank loans. The Group's balance sheet will remain very solid given its strong dependable cash flow generation, which is further strengthened by the acquisition. Air Liquide's capacity for investment and external growth will thus remain intact. The dividend policy will also be maintained. Benoit Potier, Chairman of Air Liquide's Management Board, said: "This acquisition in three large countries is a major and strategic step forward for Air Liquide. The geographic presence of our activities combined with that of Messer Griesheim's, the strong heritage which each partner brings to the deal, and our recognized expertise will give the Group a new solid and enlarged base. We will be at the heart of major European markets and will enhance our national coverage in the United States, particularly in one of the country's key industrial zones. "Around the world, the combined company will enable us to provide customers with a broader range of high quality products and services. We will also leverage our productivity programs and pursuit of growth opportunities. "I would like to congratulate the teams involved in this project, especially those responsible for establishing and maintaining a constructive work with the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community and U.S. Federal Trade Commission: they ensured the success of this project, which is so important for the Group's future. "To be the world leader in industrial and medical gases, recognized for our innovative spirit and our ability to deliver sustained, profitable growth -- this is our objective. This acquisition gives the Group new momentum to accelerate its development strategy." Present in 65 countries, Air Liquide supplies industrial and medical gases and related services. The Group offers innovative solutions based on constantly enhanced technologies. These solutions help protect life and enable our customers to manufacture many indispensable everyday products. Founded in 1902, Air Liquide has 30,800 employees. The Group has successfully developed a long-term relationship with its shareholders built on confidence and transparency and guided by the principles of corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. . Since publication of its first consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge in 1971, Air Liquide has posted strong and steady earnings growth. Sales in 2002 totaled 7,900 million euros, with sales outside France accounting for more than 76%. Air Liquide is listed on the Euronext Paris Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam and Brussels exchanges in September 2000 to form Euronext NV, which is the second largest exchange in Europe behind the London Stock Exchange. stock exchange and is a component of the CAC See Consumer Advisory Council. 40 and EuroStoxx 50 indexes - ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. code FR 0000120073. |
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