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Air Liquide Buys Majority Stake in Saudi Industrial Gases Firm

1:29 AM MDT | July 9, 2009 | Natasha Alperowicz

Air Liquide has acquired a 75% stake in Al Khafrah Industrial Gases (Riyadh), a privately owned industrial gases company with operations in Riyadh and Dammam. Sheikh Mubarak Al Khafrah, one of the founders and former chairman of the company, will retain a 20% share and "contribute to the expansion" of the company, Air Liquide says. The company will be renamed Air Liquide Al Khafrah Industrial Gases. Al Khafra Industrial Gases had sales of more than $20 million last year and employs about 100 people. Its main activities include the manufacture of...

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