Linde plc is a global multinational chemical company founded in Germany and, since 2018, domiciled in Ireland and headquartered in the United Kingdom. Linde is the world's largest industrial gas company by market share and revenue. It serves customers in the healthcare, petroleum refining, manufacturing, food, beverage carbonation, fiber-optics, steel making, aerospace, material handling equipment (MHE), chemicals, electronics and water treatment industries.[1] The company's primary business is the manufacturing and distribution of atmospheric gases, including oxygen, nitrogen, argon, rare gases, and process gases, including carbon dioxide, helium, hydrogen, ammonia, electronic gases, specialty gases, and acetylene.[1]
The company was formed by the 2018 merger of Linde AG of Germany (founded in 1879) and Praxair (founded in 1907 as Linde Air Products Company) of the United States. The resulting holding company was incorporated in Ireland, with principal executive offices in Woking, UK.[3]
In the industrial gas area, the company uses the brand names Linde, AGA, BOC, TIG, Mox-Linde Gases, Afrox, Sigas and PanGas. HiQ is used as an identifier for high purity and premium specialty gases across all of these business brand names.
In the medical gas area, the company uses the brand names Linde Gas Therapeutics, AGA Medical, INO Therapeutics, Linde Homecare, and Farmadomo.
Linde Gas supplies industrial gases, medical gases, specialty gases, refrigerants and other chemicals. Depending on the gas and the quantity required, these may be supplied in portable high-pressure gas cylinders, in liquefied form by road tanker, from on-site gas generators or in gaseous form via pipeline to large customers. This division has four operating segments, Western Europe, the Americas, Asia & Eastern Europe, and South Pacific & Africa. These segments are subdivided into eight Regional Business Units (RBUs). The Gases Division also includes the two Global Business Units (GBUs) – Healthcare (medical gases) and Tonnage (on-site) – and the two Business Areas (BAs) – Merchant & Packaged Gases (liquefied and cylinder gases) and Electronics (electronic gases).
The product range includes hydrogen, acetylene, carbon monoxide, carbon dioxide, shielding gases for welding applications, noble gases and specialty gases, oxygen, nitrogen, and argon, all of which are manufactured in Linde's air separation plants.
Uranium used to produce the United States' first atom bombs from 1942 to 1948 was processed by Linde Air Products in Tonawanda, New York. This company originally had been founded as U.S. branch of the German “Gesellschaft für Linde´s Eismaschinen Aktiengesellschaft” in 1907, but had been expropriated in 1917 and was integrated into Union Carbide & Carbon Corporation. The New York Times reported in 1981 that 37million U.S. gallons (140million liters) of radioactive caustic wastes from the Manhattan Project was dumped into nearby shallow wells specifically chosen "to hide the source of the contamination". Active remediation of sites in Tonawanda was completed in 2013 and have been in a long-term surveillance and maintenance since 2017.
On 21 June 1879, Carl von Linde founded the Gesellschaft für Linde's Eismaschinen Aktiengesellschaft to develop further his work in developing mechanical refrigeration systems for the brewing and food industries. Following success in this market, he moved on to developing lower temperature systems resulting in 1895 in a patent covering the liquefaction of air. Out of this work his company developed equipment for the separation of air and other gases. Linde's process was patented in 1902 and immediately exploited by the first large-scale air separation plant installed in Linde's works in Höllriegelskreuth, near Munich in 1903.[11]:67
In 1906, Carl Von Linde decided to expand his oxygen extraction company overseas, targeting America, where no other companies had attempted industrial scale oxygen extraction. Along with Cecil Lightfoot, in 1907, he opened the Linde Air Products Factory, his first plant in America at Buffalo, New York.[14][15]
In addition to plants for air separation, in 1906, Linde engineers started working with others on processes to separate the constituents of water gas.[15] This work lead to the 1909 invention of the Linde–Frank–Caro process to produce hydrogen and carbon monoxide, which were further key feedstocks for the emerging chemicals industry.
In addition to his interests in refrigeration, Carl von Linde had also partnered with Hugo Güldner and Georg Krauß and others in 1904 to form the Güldner Motoren-Gesellschaft mbH in Munich, which was moved to Aschaffenburg in 1906. Linde took full ownership of the company in 1929, and from this origin developed a business manufacturing first engines and tractors, and then from the 1950s onwards, a range of mechanical handling equipment such as fork lift trucks. Linde also acquired the Aktiengesellschaft für Industriegasverwertung (English: Corporation for Industry Gas Utilization), commonly referred to as the Heylandt Works.
Following World War I, Linde's U.S. assets were confiscated. They were incorporated into the Union Carbide Corporation (UCC) as the Linde Air Products division in 1917.[16] Eventually, in 1992, this part of Union Carbide was spun off as Union Carbide Industrial Gases Inc., and renamed Praxair. In 2018 this became part of Linde when Linde merged with Praxair.
In the years of Nazi Germany, Linde AG benefited from the country's attempt to become self-sufficient by refraining from imports of synthetic fuel and rubber. In 1935, general manager Friedrich Linde received the title of Wehrwirtschaftsführer, which underlined the national importance of Linde AG and allowed the company to further benefit from the German rearmament.[11]:99
Before and during World War II, all departments of Linde AG were in some way involved in the armaments production: The Heylandt-Gesellschaft für Apparatebau supplied the German rocket program, other branches produced welding equipment and engines for the armaments industry.[11]:111 In 1941, Linde manufactured oxygen and helium installations for IG Farben at the Auschwitz concentration camp. Three further planned installations were not installed due to the course of war.[11]:113–114 According to estimates of the company for mid-1944, between 400 and 500 people were used as forced labourers in production plants.[11]:115 The company claimed that 75% of its production facilities were destroyed during the war.[11]:126
In March 2007, the BOC Edwards semiconductor equipment business was sold to private equity firmCCMP Capital for €685m.[26][27][28] Also in March 2007, eight air separation units and related bulk gas business, with about 300 employees, were sold to Airgas for $495 million in cash.[29]
In April 2007, the company sold the industrial gas business of BOC Gazy to Air Products & Chemicals for €370 million or about $503 million.[30]
In 2008, the head office of Linde AG was relocated from its historic headquarters in Wiesbaden to the Angerhof building in downtown Munich.[31]
In 2010, the company acquired over 95% of the shares of Sri Lanka–based Ceylon Oxygen Ltd.[32]
In June 2011, PT Linde Indonesia, a subsidiary of Linde, announced its plan to build an air separation plant worth Rp.1 trillion ($117.33 million) in Cilegon, Banten to supply industrial gas to PT Krakatau Steel's steel plant.[33]
In May 2012, the company acquired the Belgium, France, Germany, Portugal and Spain homecare business of Air Products & Chemicals for €590 million.[34]
In August 2012, the company acquired Lincare Holdings, a healthcare gas provider in the US for US$4.6billion to become the largest home care gas supplier in North America.[35][36]
In December 2012, the company acquired homecare company Calea France SAS.[37]
In February 2016, Lincare Holdings acquired American HomePatient, Inc.[38]
In December 2016, Linde Korea completed the acquisition of Air Liquide Korea's industrial merchant & electronics and liquid bulk air gases divisions, based in South Korea.[39]
In early June 2017, after almost a year of on-and-off negotiations, Linde and Praxair, the successor to UCC's Linde Air Products division, agreed to merge.[40]
In July 2018, the company agreed to sell certain business in North and South American assets to Messer Group and CVC Capital Partners for $3.3 billion to gain regulator approval for the Praxair merger.[41][42][43]
On 31 October 2018, the merger was completed except finalising divestitures required by the respective antitrust authorities.[44] On 1 March 2019 the company completed divestitures required by US antitrust authorities.[45]
On 28 February 2019, Matheson acquired Linde HyCO, divested to comply with the regulatory terms of the Praxair merger.[46]
On 9 August 2019 Linde partnered with CarbonCure Technologies.[47]
On 29 August 2019, the company acquired a 10% stake in Hydrospider, a Swiss producer and supplier of hydrogen derived from renewable energy sources.[48][49]
In January 2020, the company sold its LifeGas division.[52]
In April 2020, Gasum acquired the company's LNG and Biogas business in Sweden and Norway.[53][54]
In 2021 Linde and the Turkish construction company Renaissance Heavy Industries were awarded a contract to build a Liquified Natural Gas terminal at Ust-Luga in Russia.[55] Following the 2022 Russian invasion of Ukraine, sanctions were introduced which restricted Linde completing the contract. Russia accordingly froze assets of Linde in Russia, who has an exposure of €1 billion in the country.[56]
In September 2022, Linde sold Gist Limited to Marks & Spencer for £145 million.[57] Gist, headquartered at Chineham Business Park, Basingstoke, offers supply chain services including end-to-end management and customer fulfilment through transport and warehousing. Gist was acquired by Linde as part of its 2006 acquisition of BOC.[58]
Union Carbide Corporation (UCC) is an American chemical company. UCC is a wholly owned subsidiary of Dow Chemical Company. Union Carbide produces chemicals and polymers that undergo one or more further conversions by customers before reaching consumers. Some are high-volume commodities and others are specialty products meeting the needs of smaller markets. Markets served include paints and coatings, packaging, wire and cable, household products, personal care, pharmaceuticals, automotive, textiles, agriculture, and oil and gas. The company is a former component of the Dow Jones Industrial Average.
BOC Limited is a British based multinational, industrial gas company. Formerly listed on the London Stock Exchange, since 2006 it has been a subsidiary of Linde plc.
Carl Paul Gottfried von Linde was a German scientist, engineer, and businessman. He discovered the refrigeration cycle and invented the first industrial-scale air separation and gas liquefaction processes, which led to the first reliable and efficient compressed-ammonia refrigerator in 1876.
Air Products and Chemicals, Inc. is an American international corporation whose principal business is selling gases and chemicals for industrial use. Air Products is headquartered in Trexlertown, Pennsylvania, in the Lehigh Valley region of eastern Pennsylvania.
Air Liquide S.A. is a French multinational company which supplies industrial gases and services to various industries including medical, chemical and electronic manufacturers. Founded in 1902, after Linde it is the second largest supplier of industrial gases by revenues and has operations in over 70 countries. It has headquarters at the 7th arrondissement of Paris. Air Liquide owned the patent for Aqua-Lung until it expired.
Liquefaction of gases is physical conversion of a gas into a liquid state (condensation). The liquefaction of gases is a complicated process that uses various compressions and expansions to achieve high pressures and very low temperatures, using, for example, turboexpanders.
Industrial gases are the gaseous materials that are manufactured for use in industry. The principal gases provided are nitrogen, oxygen, carbon dioxide, argon, hydrogen, helium and acetylene, although many other gases and mixtures are also available in gas cylinders. The industry producing these gases is also known as industrial gas, which is seen as also encompassing the supply of equipment and technology to produce and use the gases. Their production is a part of the wider chemical Industry.
Praxair, Inc. was an American worldwide industrial gases company. Founded in 1907, Praxair was the largest industrial gases company in North and South America, and the third-largest worldwide by revenue. In 2018 it merged with Linde AG to form Linde plc. The Praxair name was discontinued on September 1, 2020 in the US.
Kion Group AG is a German multinational manufacturer of materials handling equipment, with its headquarters in Frankfurt, Hesse, Germany. Its principal products are intralogistics, warehouse automation equipment, and industrial (forklift) trucks. Kion Group was founded in 2006 by the demerger of Linde's materials handling equipment operations. It is the world's second-largest manufacturer of forklifts measured by revenues.
Gasum Oy is a Finnish state-owned energy company operating in the Nordics. Gasum owns 17 biogas refineries in Finland and Sweden, and is the largest processor of biodegradable waste in the Nordic countries. In addition, Gasum sells wind power and provides various energy market services. It is in the process of building a gas filling station network that will also serve heavy-duty vehicles.
An air separation plant separates atmospheric air into its primary components, typically nitrogen and oxygen, and sometimes also argon and other rare inert gases.
Matheson Tri-Gas, Inc. produces industrial, medical, and specialty gases, and associated gas handling equipment, in North America. MATHESON offers semiconductor, medical, welding, atmospheric gases, rare gases delivered via pipelines, onsite generators, bulk tanks, and in gas cylinders to customers using gases in their labs, semiconductor fabs, hospitals, chemical plants, manufacturing and many other processes. Furthermore, MATHESON also designs and manufactures gas purification systems, generators, delivery systems, filters, gas purifiers, detection equipment, control valves, and management accessories; and gas cylinder enclosures, source manifolds, and panels, as well as helium recovery solutions. In addition, the company provides support, engineering, and systems management services to analytical laboratories and semiconductor manufacturers worldwide.
Jamshedpur is the largest urban conglomeration in the state of Jharkhand, India and is also the first well-planned industrial city of India, founded by late Jamshedji Nusserwanji Tata. It is also known as Steel City and Tatanagar or simply Tata. In terms of economy Jamshedpur has second largest economy after Dhanbad in Jharkhand.
Lincare Holdings Inc. was a publicly traded healthcare company headquartered in Clearwater, Florida. Lincare was leading the respiratory homecare industry by serving approximately 1.8 million patients nationwide Lincare operates from over 700 locations in 49 states across the United States and employs 11,000 people, including 1,300 licensed clinicians. Products and services provided by Lincare include, but are not limited to, oxygen, nebulizers, sleep apnea products, home INR testing, ventilator products, enteral therapy, and homecare respiratory therapy services. Additional products provided by Lincare are durable medical equipment, including wheelchairs, walkers, and hospital beds.
The Messer Group GmbH is a supplier of industrial gases. Business is focused on 30 European and Asian countries. The company headquarters are located in Bad Soden (Germany). The managing director of the family company is Stefan Messer, grandson of the company founder.
ITM Power plc is an energy storage and clean fuel company founded in the UK in 2001. It designs, manufactures, and integrates electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen using renewable electricity and tap water. Hydrogen produced via electrolysis is used for mobility, Power-to-X, and industry.
BOC Kenya plc (BOCKL), also BOC Kenya, is a manufacturing company in Kenya. The company manufactures and markets industrial and medical gases.
Nippon Sanso Holdings Corporation, commonly known as NSHD, is a Japanese multinational industrial gas manufacturer incorporated in the year 1910 as Nippon Sanso Corporation. The company was founded in 1918.
Marl Chemical Park is an industrial park in Marl, North Rhine-Westphalia, Germany. It is the third largest industrial cluster in Germany and among the largest chemical production facilities in Europe. The site occupies over 6 square kilometers, hosts 100 chemical plants, employs 10,000 people, and produces 4 million metric tons of chemicals annually. 18 companies are based in the Park, including primary tenant Evonik Industries AG, which also owns and operates the infrastructure through its subsidiary Infracor GmbH.
INOX Air Products, also known as INOX AP, is the India-based industrial gas company. It is a joint venture between INOX Leasing and Finance Limited and Air Products & Chemicals. The company is engaged in the manufacturing, trading, and supply of industrial and medical gases including oxygen, nitrogen, argon, hydrogen, helium, nitrous oxide, acetylene, and specialty gas mixtures.
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US$32.85 billion (2023)
US$8.024 billion (2023)
