If 2018 was a year of delivery, and 2019 has been a year of transformation in the competitive structure of the industrial gases market, then one might expect 2020 to be a year of realisation for our industry.
The industrial gas year has in 2019 been characterised by the changing of the guard at the Tier One table and the resulting mergers and acquisitions (M&A) that trickle down through the industry.
The Praxair-Linde merger required the divestment of substantial business assets, including most of Praxair’s European business (sold to Taiyo Nippon Sanso, representing its first significant entry into the region), part of Linde’s American business (primarily to Messer, representing its return to the region) and most of Linde’s South Korean business (to local investors) and regional parts of both companies in India (to Air Water).
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