Air Products announced it has reached agreement with The Linde Group to acquire the industrial gas business of BOC Gazy (Poland) for $481 million. The transaction is subject to regulatory approval and customary closing conditions. BOC Gazy was required to be sold by Linde as a result of its purchase of The BOC Group plc in September 2006.
BOC Gazy has fiscal year 2006 sales of approximately $164 million, and earnings before tax, interest, depreciation and amortization of approximately $50 million. The business has approximately 750 employees and five major industrial gas plants. The acquisition will allow Air Products to build a low-cost position in the region and serve customers across Central and Eastern Europe.
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