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People & Business :: Companies

Air Products Buys Stake in Saudi Gases Firm

11:30 AM MDT | October 6, 2011 | Vincent Valk

Air Products has agreed to buy a 25% stake in Abdullah Hashim Industrial Gases & Equipment Co. Ltd. (AHG; Jeddah, Saudi Arabia), the largest privately held industrial gases company in Saudi Arabia. Terms of the deal were not disclosed. AHG’s turnover exceeds $450 million and the company has 1,800 employees.   Air Products and AHG already two joint ventures. The first is an on-site oxygen and nitrogen facility Jindal Shadeed Iron & Steel’s (Sohar, Oman) plant in Oman, and the second supplies the same two cases to Emirates Float Glass (Abu...

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