Air Products has completed the $1.81bn sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell.
First announced in July 2024, the acquisition marks what Air Products has described as a strategic divestiture to enhance its focus on its two-pillar growth strategy to grow its core industrial gases business and deliver clean hydrogen at scale.
Read more: Why did Air Products sell its LNG tech to Honeywell
LNG process technology and equipment-related assets, manufacturing capability, and personnel have now been transferred to Honeywell, including approximately 475 employees and the Port Manatee, Florida, coil-would heat exchanger manufacturing facility.
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