News | April 14, 2021
Air Products Acquires Remaining 50% Stake In Gasification Technology Joint Venture From China Shenhua Coal To Liquid And Chemical
Transaction Brings Air Products Ownership to 100%, Furthering its Gasification Growth Strategy and Position to Leverage its Complete Technology Portfolio
Lehigh Valley, PA and Shanghai /PRNewswire/ - Air Products (NYSE: APD) today announced it has completed the acquisition of the remaining 50 percent equity stake in its gasification technology joint venture (JV) with China Shenhua Coal to Liquid and Chemical Co. Ltd., a subsidiary of China Energy Group. Financial terms of the transaction are not being disclosed.
Air Products acquired its initial 50 percent equity stake in the JV as part of its acquisition of General Electric Company s ( GE ) gasification business from GE Power in 2019.