Air Products to Acquire GE’s Gasification Business and Technology

Air Products announced yesterday it has signed an agreement to acquire the GE gasification business. Financial terms of the transaction were not disclosed. The acquisition is expected to close following the receipt of any necessary regulatory approvals and satisfaction of customary closing conditions.

The gasification business being acquired by Air Products includes GE’s share of its 50/50 joint venture with China Shenhua Coal to Liquid and Chemical Company. The JV, formed in 2011, provides technologies for gasification projects in China. The acquisition also includes over 1,000 patents relating to GE’s gasification technology.

“Acquiring GE’s gasification technology and business would complement our other recently completed gasification technology acquisition and alliance formation. Together, they would give Air Products a broad range of product and service offerings and solutions to provide syngas for chemicals, fuels, power or refining.” said Seifi Ghasemi, chairman, president and chief executive officer at Air Products.