Driven by exports, South Korea’s economy has grown into one of the world’s most advanced economies (and its eighth largest exporter). This manufacturing success is boosting demand for industrial gases in a wide range of sectors such as steel, chemicals, automobile, consumer electronics and high technologies.
Fifteen years ago, Air Liquide was the first company in the country to introduce a carbon monoxide and hydrogen offering for large industries (typically in chemicals & refining). It has since expanded and has become a major player in the Korean market for industrial and medical gases.
Air Liquide Korea has now completed the acquisition of H-Plus SGS, Ltd., a privately held supplier of piped carbon monoxide and hydrogen in Yeosu (south of the country) with a total capacity of 60,000m³ per hour of hydrogen and carbon monoxide. Air Liquide Korea has obtained the required regulatory approvals for this deal.
Air Liquide Korea already operates two units in Yeosu providing hydrogen and carbon monoxide to the petrochemical industry. This acquisition, by adding a 3rd unit, will allow Air Liquide Korea to better serve its existing customers, with greater redundancy, and to meet the growing demand in this basin.
Jean-Marc de Royere, Senior Vice-President Asia-Pacific and a member of Executive Committee of the Air Liquide Group, declared: “Enlarging its business from its first contracts fifteen years ago in Yeosu, Air Liquide has developed its offering in the Korean market to meet the gas needs of its customers.
With this new unit, our Korean operation will immediately grow more than 30% and we are significantly increasing our commitment to Korea. South Korea is the third biggest market for industrial and medical gases in Asia and presents many opportunities to Air Liquide, as the country hosts some of the world’s largest industrial groups, and displays a well-developed medical system.”
Air Liquide in Korea
Founded in 1996 thanks to a unique offering, Air Liquide Korea has developed into a major player in the Korean market for industrial & medical gases.
With this acquisition, Air Liquide Korea reinforces its leadership in hydrogen and carbon monoxide and grows its business more than 30%.
The Large Industries business line of Air Liquide
proposes gas and energy solutions that improve process efficiency and help achieve greater respect for the environment, mainly to the refining and natural gas, chemicals, metals and energy markets. 2009 revenues were € 3,219 million.