Linde Inks Multiple Deals To Boost Network In China's Key Industrial Areas

Linde PLC LIN disclosed signing several contracts with Wanhua Chemical Group to extend the collaboration across multiple significant sites in China.

Linde will acquire three air separation units (ASUs) from Wanhua, including two currently under construction and expected to start in 2024 and 2025, respectively.

Also, Linde will ink a long-term deal with Wanhua to supply industrial gases to their chemical production sites through the ASUs, further boosting its network density in Fujian province.

Apart from this, Linde also expanded its long-term industrial gas supply contract with Wanhua at Ningbo and Yantai, including decarbonization investments to cut carbon dioxide equivalent emissions by about 500,000 tons annually.

"These high-quality investments not only meet our strict investment criteria but also support our sustainability goals while securing future growth. Strategically, they enhance our network density in key industrial areas in China," said John Panikar, Executive Vice President APAC. 

Also Read: Linde Ramps Up Capacity Of Samsung Display On-Site Facility In South Korea

Price Action: LIN shares are trading higher by 0.52% at $372.64 on the last check Tuesday.