gasworld first reported news of the takeover in March when a filing with Bursa Malaysia said SIG Gases’ had received a letter from Air Liquide Malaysia to acquire 23 million ordinary shares representing a 100% equity interest.
Air Liquide offers to buy Southern Industrial Gas
Air Liquide said the new acquisition is expected to deliver significant synergies by enlarging its footprint and providing the company with a geographical density across most of Malaysia.
Southern Industrial Gases is one of the key industrial gas players in the Malaysian market, generating close to RM 80m ($19.2m) in revenue annually.
With more than 200 employees, it has eight manufacturing and refilling facilities across Malaysia and a distribution network that covers all of Malaysia’s key industrial basins.
Francois Abrial, member of the Air Liquide Group’s Executive Committee supervising Asia Pacific, commented, “This acquisition will enable us to strengthen our activities in Malaysia, with a reinforced network that will drive sustainable growth and deliver innovative solutions for Industrial Gas customers across Malaysia.”
“We look forward to the integration of SIGSB into Air Liquide Malaysia and we are confident that we can continue to drive value for our customers and create opportunities for our employees.”
Air Liquide began operating in Malaysia in 1927. Its presence in the country now includes all industrial gas activities, a Smart Innovative Operations Centre and shared services which serve Asia and the Pacific regions.