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Air Products And Chemicals To Buy Europe's Leading Carbon Dioxide Business

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Air Products and Chemicals Inc. APD inked a definitive agreement to acquire ACP Europe SA — is the biggest independent carbon dioxide business in Continental Europe. The deal is subjected to customary closing conditions and financial terms remain undisclosed.

Air Products' broad portfolio of industrial gases, including liquid carbon dioxide from its operations in Spain and Poland is supplied across 13 European countries.

This buyout will enable the company to serve existing customers better in Europe and tap new industrial gas growth opportunities. Also, the move will help Air Products to foray into newer regions of Europe as a liquid carbon dioxide supplier.

Air Products' shares have moved up 15.6% in a year, underperforming the industry's 18.2% gain.

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