Air Liquide sells Greece-based assets to SOL Group
By Mary Page Bailey |
Air Liquide SA (Paris, France) announced the sale of its entities in Greece to Italian multinational corporation SOL Group. This transaction includes Air Liquide Hellas (ALH) and Vitalaire Hellas entities.
As part of the divestiture, the existing assets of Air Liquide in Greece have been transferred to SOL. Air Liquide’s 104 employees in the country are now SOL employees.
The divestment illustrates Air Liquide’s strategy to review its asset portfolio regularly and focus its expansion in key industrial regions in order to increase its geographic density and therefore enhance performance.
Established in 1909, Air Liquide Hellas, and its controlled subsidiary Vitalaire HealthcareHellas, is a leading player in the merchant technical gases and home care markets in Greece. SOL Group is already present in the Greek market through its subsidiaries: SOL Hellas and VIVISOL Hellas which operate since many years respectively in the technical gases market and in the home care market. ALH can leverage on a solid asset base, which includes 1 ASU (Air Separation Unit), 1 liquid CO2 production plant, several on-site facilities, 2 filling centers and a complete supply chain of equipment covering the whole country, along with a diversified customer base with more than 1,000 customers served through on-site plants, bulk or cylinder contracts, a longstanding relationship with customers driven by an high level of services and customer satisfaction with more than €20 Million revenues in 2019 and a full experienced team of 104 employees with strong knowledge of the business and local market.