Global acquisitions help to execute on the company’s long-term strategy
Air Products has completed several acquisitions in recent years to support the company’s gasification growth strategy and address the world’s energy and environmental challenges. In November 2019, Air Products purchased General Electric Co.’s gasification business, expanding upon its synthesis gas solutions and gaining more than 1,000 patents. The company also completed a $530.0 million acquisition of five steam methane reformer hydrogen production plants from PBF Energy Inc in April 2020. Most recently, Air Products purchased the remaining 50.0% stake in its gasification technology joint venture with China Shenhua Coal to Liquid and Chemical Co. Ltd.
Competition|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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