Printer Friendly

Air Products to purchase GE's syngas operations.

Byline: Stacy Wescoe

According to a release, the company said the move will allow Air Products to expand its syngas solutions and grow its presence in building, owning and operating gasification projects around the world.

Syngas is a mixture of carbon monoxide and hydrogen produced mostly from coal that is used in making synthetic chemicals.

The business being acquired includes GE's share of a 50/50 joint venture with China Shenhua Coal to Liquid and Chemical Company Ltd., a subsidiary of China Energy Group. The joint venture, formed in 2011, provides technologies for gasification projects in China.

The acquisition also includes over 1,000 patents relating to GE's gasification technology, which has been deployed at over 90 sites, with over 240 gasifiers, and represents over 36,000 thermal megawatts of syngas production.

The acquisition also includes approximately 50 total employees.

Financial terms of the transaction were not disclosed. The transaction is pending regulatory approvals.

"Acquiring GE's gasification technology and business would complement our other recently completed gasification technology acquisition and alliance formation. Together, they would give Air Products a broad range of product and service offerings and solutions to provide syngas for chemicals, fuels, power or refining. Together, the transactions would allow us to further extend our onsite industrial gas production model to include syngas supply, and enable cross-selling opportunities for our other technologies and product offerings," said Seifi Ghasemi, chairman, president and chief executive officer at Air Products in a statement.View the full article from Lehigh Valley Business at Copyright 2018 BridgeTower Media. All Rights Reserved.

Copyright {c} 2018 BridgeTower Media. All Rights Reserved.

COPYRIGHT 2018 BridgeTower Media Holding Company, LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Lehigh Valley Business
Date:Nov 6, 2018
Previous Article:UPS opening seasonal hub in Palmer.
Next Article:Investors want to transform Slatington Marketplace into event and food venue.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |