June 27, 2023
(press release)
–
Woking, UK, June 27, 2023 – Linde (NYSE: LIN) announced today that it has signed a series of contracts with Wanhua Chemical Group, expanding the companies’ cooperation across multiple key sites in China. In Fujian province, Linde will acquire three air separation units (ASUs) from Wanhua, including two ASUs that are currently under construction and expected to start up in 2024 and 2025, respectively. Linde will enter into long-term agreements with Wanhua for the supply of industrial gases to their chemical production sites through the acquired ASUs. These plants will further enhance Linde’s network density in Fujian province and foster future growth. Linde has also extended its long-term industrial gas supply agreements with Wanhua at Ningbo and Yantai, including investment in decarbonization to reduce carbon dioxide equivalent emissions by approximately 500,000 tons per year. “We are proud to strengthen our long-standing global partnership with Wanhua,” said John Panikar, Executive Vice President APAC, Linde. “These high-quality investments not only meet our strict investment criteria but also support our sustainability goals while securing future growth. Strategically, they enhance our network density in key industrial areas in China.” “As a global chemical company, Wanhua Chemical is committed to continuously optimizing industrial structure and actively setting a benchmark for low-carbon and green development in the chemical industry,” said Liao Zengtai, Chairman of Wanhua Chemical Group. “For many years, Linde has been safely and reliably supplying industrial gases to support the growth of our business. With an increasing global focus on sustainability, our new cooperation enables us to have more confidence in the future.“ About Linde Linde is a leading global industrial gases and engineering company with 2022 sales of $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet. The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions. For more information about the company and its products and services, please visit www.linde.com
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
