Air Liquide acquires DIG Airgas for a valued $3.3 billion, bolstering its presence in Asia.

Air Liquide acquires DIG Airgas for a valued $3.3 billion, bolstering its presence in Asia.

Air Liquide, a global leader in gases, technologies, and services for industry and health, has announced its acquisition of DIG Airgas, a leading South Korean industrial gas company. The deal, valued at KW4.6 trillion ($3.3 billion), is set to close in the first semester of 2026.

Under Macquarie Asset Management's ownership, DIG Airgas has become one of the largest industrial gas players in Korea, supplying essential gases to key customers across various sectors. The company operates 60 plants and 220km of pipeline networks, and boasts an annual turnover of €510m.

François Jackow, CEO of Air Liquide since June 2022, described the acquisition as a strategic investment for profitable growth in Asia, particularly in the fast-growing electronics sector. Mr. Jackow led the bidding process, with Air Liquide shortlisted for the final round last month.

The purchase substantially strengthens Air Liquide's market position in South Korea, the fourth largest industrial gas market. It also provides three key reasons for the acquisition:

1. DIG Airgas' business portfolio is well-diversified across various industrial basins.
2. The company has successfully diversified its customer base and expanded into new growth industries such as semiconductors and secondary batteries.
3. DIG Airgas already has a backlog of nearly 20 secured projects.

Korea is leading the next waves of development in key sectors like the semiconductors industry, clean energy, and mobility. Air Liquide's projects pipeline for high-purity carrier gases is being boosted by this continued growth in Asia.

Mr. Jackow stated that the deal demonstrates Air Liquide's ability to invest strategically for profitable growth in Asia. The opportunity will contribute to the net profit growth of the Air Liquide group as soon as one year after integration. Furthermore, the acquisition enables Air Liquide to build a reference player in the Republic of Korea.

In addition to the DIG Airgas acquisition, Air Liquide also announced plans to build an ultra-high-purity air gases plant in Singapore. This move further solidifies Air Liquide's commitment to the Asia Pacific region and its ambition to be a key player in the fast-growing electronics sector.

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