Air Liquide in Exclusive Negotiations With Safran Aerosystems for the Sale of Its Oxygen and Nitrogen Aerospace Technology Activities

May 16, 2023

Regulatory News:

Air Liquide's (Paris:AI) oxygen and nitrogen aerospace technology activities have been developed since 1983 on the Campus Technologies Grenoble site to serve the aerospace market in the field of on-board gases and associated equipment.

Today, these activities represent 218 employees located on the Campus Technologies Grenoble, France, and more specifically concern its portable oxygen breathing equipment, its on-board oxygen and nitrogen generation, storage and distribution solutions, as well as its ground support and optronics(1) activities.

Air Liquide will also continue to operate the remaining advanced Technologies activities located on its Campus Technologies Grenoble, and will retain the possibility of supplying hydrogen cryogenics technologies to the aerospace industry.

This decision reflects Air Liquide's strategy of regularly reviewing its business portfolio in order to focus on the Group's key activities or territories and thus maximize its performance.

This operation, which should be finalized by early 2024, is subject to final and definitive agreement between the parties, and will be carried out within the framework of the regulatory social processes and ongoing dialogue with the employee representative bodies.

Campus Technologies Grenoble

The Campus Technologies Grenoble, which gathers about 1,400 employees, is responsible for designing and manufacturing innovative high-tech solutions for the growing deep tech and energy transition markets. Expert in extreme cryogenics, the Campus Technologies Grenoble serves customers worldwide, particularly in the areas of industry, space, scientific research and new energies such as hydrogen and biomethane.

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 73 countries with approximately 67,100 employees and serves more than 3.9 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide's scientific territory and have been at the core of the company's activities since its creation in 1902.

Taking action today while preparing the future is at the heart of Air Liquide's strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition--particularly with hydrogen--and takes action to progress in areas of healthcare, digital and high technologies.

Air Liquide's revenue amounted to more than 29.9 billion euros in 2022. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50, FTSE4Good and DJSI Europe indexes.

(1) Optronics generally combines an optical sensor, an image processing system, and a display or memory system and is used in equipment or systems using both optics and electronics.

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By Pierre Bertrand

Air Liquide said Thursday that it has entered into exclusive negotiations for the sale of its oxygen and nitrogen aerospace technology activities to Safran Aerosystems.

The sale relates to Air Liquide's portable oxygen breathing equipment, its on-board oxygen and nitrogen generation, storage and distribution, as well as its ground support and optronics activities, the French industrial gases maker said in a statement. The sale excludes the company's marine-related cryogenic activities, Air Liquide said.

The deal should be finalized by early 2024 and is subject to a final and definitive agreement, it said.

The company didn't disclose financial details.

Write to Pierre Bertrand at [email protected]

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