Air Liquide Announces Its Plan to Disengage from Russia
02 September 2022 - 4:45PM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) confirms today its
intention to withdraw from Russia. Taking a responsible and orderly
approach, the Group has signed a Memorandum of Understanding with
the local management team with the objective to transfer its
activities in Russia in the framework of an MBO (Management Buy
Out). This project is notably subject to Russian regulatory
approvals. In parallel, as a consequence of the evolution of the
geopolitical context, the activities of the Group in Russia will no
longer be consolidated starting September 1, 2022.
Air Liquide employs close to 720 people in Russia and its
turnover in the country represents less than 1% of the Group’s
turnover. This divestment project to local managers aims to allow
an orderly, sustainable and responsible transfer of its activities
in Russia, ensuring notably the continuity of oxygen supply to
hospitals. As a reminder, the Group has previously announced, in
the context of the closing of its accounts at June 30, 2022 an
exceptional provision of 404 million euros on the Group’s assets in
Russia, which has no impact on cash.
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 75 countries with
approximately 66,400 employees and serves more than 3.8 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart
of Air Liquide’s strategy. With ADVANCE, its strategic plan for
2025, Air Liquide is targeting a global performance, combining
financial and extra-financial dimensions. Positioned on new
markets, the Group benefits from major assets such as its business
model combining resilience and strength, its ability to innovate
and its technological expertise. The Group develops solutions
contributing to climate and the energy transition—particularly with
hydrogen—and takes action to progress in areas of healthcare,
digital and high technologies.
Air Liquide’s revenue amounted to more than 23 billion euros in
2021. Air Liquide is listed on the Euronext Paris stock exchange
(compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX
50 and FTSE4Good indexes.
www.airliquide.com Follow us on Twitter
@airliquidegroup
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