Air Products has agreed to acquire a 25% stake in the gases and equipment businesses of Abdullah Hashim Industrial Gases & Equipment (AHG), based in The Kingdom of Saudi Arabia.
The transaction is subject to regulatory approval and customary local closing conditions.
AHG also signed a purchase agreement with the National Industrial Gases Company (NIGC) at Jubail and Yanbu for liquid products.
Air Products and AHG currently operate two joint ventures.
AHG operates three businesses, including industrial gases, equipment, consumables and refrigerants, with three production locations in Dammam, Jeddah and Riyadh.
Financial terms were not disclosed.
