Air Liquide
A French multinational group supplying industrial, medical and specialty gases, engineering systems and related services to customers worldwide.
Last updated November 4, 2026
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Overview
Air Liquide is a French multinational industrial-gases and technologies group headquartered in Paris. Founded in 1902, the company developed from the commercialization of Georges Claude’s processes for liquefying and separating air into oxygen, nitrogen and argon. It became one of the principal global suppliers of industrial gases, serving customers through a combination of merchant distribution, cylinder networks, bulk deliveries, pipelines and production units built and operated at customer sites. The group supplies oxygen, nitrogen, argon, hydrogen, carbon dioxide, helium and specialty gases, together with equipment, engineering, monitoring and operational services. Its customer base spans steel, chemicals, refining, energy, food and beverage, healthcare, electronics, aerospace, automotive and research. In healthcare, Air Liquide supplies medical gases and related equipment and services to hospitals, institutions and home-care patients. Its electronics activities provide high-purity and specialty gases for semiconductor, display and other advanced manufacturing processes, where purity, continuity and process control are critical. Air Liquide’s business model is built around long-term customer relationships and capital-intensive infrastructure. Large customers may receive gas through dedicated pipelines or on-site plants, while smaller and mid-sized customers are served through cylinders and bulk logistics. This integrated model gives the company recurring revenue and close operational relationships, but also exposes it to energy prices, industrial production cycles, transport costs, safety requirements and the high investment needs of decarbonization. The company expanded internationally early in its history and now operates in more than 70 countries, with major activities in Europe, the Americas, Asia, the Middle East and Africa. Its research and development covers gas production, cryogenics, process engineering, healthcare applications, food technologies, electronics and lower-carbon industrial systems. Hydrogen, carbon-management technologies and solutions intended to reduce emissions from heavy industry have become increasingly important strategic themes. Air Liquide is listed on Euronext Paris and is commonly regarded as one of the two leading global industrial-gas groups by scale. Its major strategic developments have included expansion into large-industry pipeline networks, healthcare, electronics, space-related activities and the 2016 acquisition of Airgas in the United States. The group remains active in industrial and medical gases while investing in innovation and energy-transition technologies.
History
Air Liquide was created in 1902 after Georges Claude developed a commercially useful process for liquefying air and separating its components. On 8 November 1902, Paul Delorme organized financial backing from 24 subscribers and became the first president of the company established to exploit Claude’s processes. The original business focused on producing oxygen, nitrogen and argon for industrial applications. Its early expansion demonstrated that gases could be supplied as an industrial utility rather than merely sold as portable products. The company began international operations in Belgium and Italy in 1906, followed by expansion into Canada, Japan and Hong Kong. It was listed on the Paris Stock Exchange in 1913. During the interwar period, Air Liquide expanded while maintaining a relatively conservative financing approach. In 1938 it entered Argentina through the acquisition of La Oxígena S.A. Air Liquide also contributed to the development of modern diving equipment. During the Second World War, Air Liquide engineer Émile Gagnan worked with Jacques-Yves Cousteau on scuba-regulator prototypes. In 1946, the group created La Spirotechnique, which marketed the CG45 regulator. This helped establish a commercial foundation for modern recreational scuba diving, although diving equipment later became separate from the group’s core industrial-gas identity. After the war, Jean Delorme led reconstruction and investment in industrial capacity. In 1957, Air Liquide entered large-industry supply more systematically by developing pipeline networks serving major industrial basins. These networks supported continuous delivery to steel, chemical and refining customers and became a defining feature of the industrial-gases business. The company expanded in the United States during the 1960s, including through the acquisition of American Cryogenics, and entered space-related activities in 1962. Research became an important institutional capability. In 1970, Air Liquide inaugurated the Claude-Delorme Research and Development Center at Les Loges-en-Josas, near Paris. Its work covered process engineering, applied mathematics, clinical research and other areas related to gases and their applications. The group later broadened its activities into healthcare, electronics, aerospace and advanced manufacturing, where purity and supply reliability are particularly important. The 1980s brought further international and healthcare expansion. In 1986, Air Liquide acquired Big Three, a U.S.-based company with operations extending across Europe and Asia, and acquired SEPPIC, a French specialty-chemicals business connected with healthcare applications. During the 1990s and 2000s, the group increased its investment in hydrogen and expanded its healthcare platform. It acquired selected Messer Griesheim operations in several countries in 2001, formed the Japan Air Gases joint venture with BOC in 2002, and acquired Linde Gas activities in the United Kingdom and engineering company Lurgi in 2007. In the 2010s, Air Liquide placed greater emphasis on open innovation, venture investment and energy transition. It created the ALIAD venture-capital investor and launched the i-Lab innovation laboratory in 2013. The group’s largest strategic transaction of the period was its acquisition of Airgas, announced in 2015 and completed in May 2016. The deal expanded Air Liquide’s U.S. distribution network and customer base. In 2017, the company sold its welding business to Lincoln Electric and took control of Norwegian biomethane producer Skagerak Naturgass. In 2018, it commissioned a large oxygen-production unit for Sasol and opened the Paris Innovation Campus at Saclay. In the 2020s, Air Liquide continued to combine its traditional gas businesses with investment in hydrogen, carbon-management and lower-emission industrial solutions. François Jackow became chief executive officer in 2022, succeeding Benoît Potier. The group has also faced geopolitical and operational events, including the reported placement of its Russian subsidiaries under temporary management in 2025 and an explosion at a specialty-gas site in Florida in 2023. In August 2025, it agreed to acquire South Korea’s DIG Airgas, subject to the transaction’s applicable conditions. Air Liquide’s continuing development reflects the evolution of industrial gases from a commodity-like product into a global network of production assets, logistics, engineering, digital services and long-term supply contracts.
- 2022
Chief executive transition
[2]François Jackow became chief executive officer, succeeding Benoît Potier.
- 2018
Paris Innovation Campus opened
[3]The group opened its major innovation campus at Saclay near Paris.
- 2016
Airgas acquisition completed
[3]Air Liquide completed its acquisition of Airgas, significantly expanding its U.S. operations.
- 2013
ALIAD and i-Lab launched
[3]Air Liquide established its venture-capital arm ALIAD and launched the i-Lab innovation laboratory.
- 2007
Linde Gas and Lurgi transactions
[3]The group acquired Linde Gas activities in the United Kingdom and German engineering company Lurgi.
- 2001
Messer Griesheim asset acquisition
[3]Air Liquide acquired selected Messer Griesheim operations in South Africa, Trinidad and Tobago, Canada, Egypt, Argentina and Brazil.
- 1970
Claude-Delorme R&D Center inaugurated
[3]The company opened a research center at Les Loges-en-Josas covering process engineering, applied mathematics and related research.
- 1957
Large-industry pipeline networks
[3]Air Liquide began developing pipeline systems serving major industrial basins.
- 1946
La Spirotechnique established
[3]The group created La Spirotechnique, which marketed the CG45 modern diving regulator.
- 1913
Paris stock-market listing
[3]Air Liquide was listed on the Paris Stock Exchange.
Products and positioning
A technology-led, infrastructure-based supplier of industrial, medical and specialty gases, emphasizing reliability, purity, safety, engineering expertise and long-term customer service.
Industrial gases
Industrial gases
Air Liquide supplies oxygen, nitrogen, argon, hydrogen, carbon dioxide and other gases to steel, chemicals, refining, energy, food, automotive, aerospace and general manufacturing customers. Supply formats include cylinders, liquid bulk deliveries, pipelines and plants located at or near customer sites. The offering combines the gases themselves with storage, distribution, monitoring and technical support.
Healthcare
Medical gases and healthcare services
This line serves hospitals, clinics, healthcare institutions and home-care patients with oxygen and other medical gases, equipment and associated services. Applications include respiratory support, anesthesia, treatment and the operation of healthcare facilities. The business depends on strict quality, safety, continuity and regulatory controls.
Specialty gases
Electronics and specialty gases
Air Liquide provides high-purity and specialty gases for semiconductor, display and other advanced manufacturing processes. These products support deposition, etching, cleaning, inerting and other controlled production steps. Customers require tight impurity specifications, dependable delivery and process-safety expertise.
Gas-supply systems
On-site gas generation
Air Liquide designs, builds and operates production units at or close to customer facilities. On-site systems can provide continuous oxygen, nitrogen, hydrogen or other gas supplies while reducing reliance on transport. The model links equipment, operations, maintenance and long-term supply agreements.
Energy-transition technologies
Hydrogen and energy-transition solutions
The group develops hydrogen production, distribution and use technologies and other lower-carbon solutions for industrial and mobility applications. Its transition-related activities also include work connected with carbon management and reducing emissions from energy-intensive industrial processes.
Diving equipment · 1946
Diving regulators and equipment
Through La Spirotechnique, Air Liquide helped commercialize modern scuba regulators, including the CG45 launched in 1946. This historical activity connected the group’s gas and pressure-control expertise with recreational and professional diving equipment.
Marketing campaigns
- 2018Paris Innovation Campus
France · Global
The group opened its Saclay innovation campus and announced a deep-tech start-up accelerator intended to connect Air Liquide research with external entrepreneurs.
Outcome. Expanded the company’s visible research and open-innovation platform.
- 2013ALIAD and i-Lab innovation initiative
Global
Air Liquide created ALIAD and the i-Lab to identify, support and share innovations related to gases, industrial processes, healthcare and emerging technologies.
Outcome. Established dedicated corporate-innovation and venture-investment capabilities.
Brand decisions
2025
Agreement to acquire DIG AirgasM&ABackground
Air Liquide sought to reinforce its position in South Korea’s industrial-gas market.
Action taken
The company agreed to acquire South Korean supplier DIG Airgas for a reported enterprise value including debt and cash of €2.85 billion.
Aftermath
The proposed transaction was presented as a way to strengthen Air Liquide’s Korean market presence.
Reported transaction value including debt and cash. €2.85 billion (Agreement announced August 2025)
2022
Leadership transitionStrategyBackground
After Benoît Potier’s long tenure as chief executive, Air Liquide moved to a new executive leadership phase.
Action taken
François Jackow became chief executive officer.
Aftermath
The group continued emphasizing industrial gases, healthcare, electronics, hydrogen and lower-carbon solutions.
2017
Sale of welding subsidiaryM&ABackground
Air Liquide reviewed its portfolio and decided to exit the welding business.
Action taken
The group sold its welding subsidiary, employing approximately 2,000 people, to Lincoln Electric.
Aftermath
The transaction narrowed Air Liquide’s focus toward gases, healthcare, electronics and related technologies.
2015
Agreement to acquire AirgasM&ABackground
Air Liquide sought to expand its U.S. customer base and distribution infrastructure through the acquisition of Airgas.
Action taken
The company announced a transaction valued at $13.4 billion including debt; Airgas shareholders approved it in February 2016.
Aftermath
The acquisition was completed in May 2016 and became a major component of Air Liquide’s North American operations.
Transaction value including debt. $13.4 billion (Announced November 2015)
Recent events
Reported
Air Liquide completes acquisition of Secunda oxygen-production units[4]
Air Liquide finalized its acquisition from Sasol of 16 air separation units at Secunda, South Africa, and will operate the site.
- Unconfirmed
Reported
Air Liquide raises €500 million through first green bond[5]
Air Liquide launched its first green bond issue, raising €500 million to finance and refinance sustainable projects, particularly in hydrogen, biogas and oxygen.
- Unconfirmed
Reported
Air Liquide completes construction of Quebec hydrogen production unit[6]
Air Liquide completed construction of a 20 MW proton-exchange membrane electrolyzer in Bécancour, Quebec; the unit is producing up to 8.2 tonnes of low-carbon hydrogen per day for industrial use and mobility.
Reported
Air Liquide acquires Nikkiso Turboexpander Business Line[7]
Air Liquide acquired Nikkiso Cryogenic Industries' Turboexpander Business Line, with the acquisition effective January 1, 2021. Nikkiso's Cryogenic Service unit will remain an authorized service company.
Reported
Air Liquide announces two biomethane production units in Italy[8]
Air Liquide announced the construction of its first two biomethane production units in Italy in collaboration with local partner Dentro il Sole; entry into operation was scheduled for the second quarter of 2021.
Reported
Air Liquide enters exclusive talks to acquire Sasol's Secunda oxygen plant[9]
Sasol signed an exclusive negotiation agreement to sell its oxygen plant in Secunda, South Africa, to Air Liquide. The acquisition had not yet been completed; the parties aimed to negotiate final agreements in the following months, subject to relevant approvals.
Reported
Air Liquide enters exclusive talks to acquire Sasol’s Secunda oxygen plant[10]
Sasol signed an exclusive negotiation agreement with Air Liquide to sell its oxygen plant in Secunda, South Africa. The parties expected to negotiate final agreements in the following months, subject to relevant approvals; the acquisition had not yet been completed.
Reported
Air Liquide completes acquisition of Southern Industrial Gases[11]
Air Liquide completed its acquisition of Malaysian industrial-gas business Southern Industrial Gases Sdn Bhd. The acquisition doubles Air Liquide’s packaged-gas filling capacity in Malaysia.
- Unconfirmed
Reported
Cummins completes acquisition of Hydrogenics[12]
Cummins completed its acquisition of Hydrogenics, with the transaction valued at approximately $290 million. Air Liquide retained a 19% stake, and Cummins assumed the rest.
Sources13 sources
- 1Air Liquide official historyairliquide.com
- 2Air Liquide official governanceairliquide.com
- 3Air Liquideen.wikipedia.org
- 4Air Liquide完成收购Secunda制氧装置chemengonline.com
- 5Air Liquide首次发行绿色债券，筹集5亿欧元finanznachrichten.de
- 6液化空气集团完成魁北克氢气生产装置建设canadianminingjournal.com
- 7液化空气集团收购日机装透平膨胀机业务线finanznachrichten.de
- 8液化空气集团宣布在意大利建设两座生物甲烷生产装置finanznachrichten.de
- 9液化空气集团就收购萨索尔塞昆达制氧厂展开独家谈判finance.sina.com.cn
- 10液化空气集团与萨索尔就收购塞昆达制氧厂展开独家谈判prnasia.com
- 11Air Liquide完成对Southern Industrial Gases的收购chemengonline.com
- 12康明斯完成对Hydrogenics的收购industryweek.com
- 13Nikkiso sells turboexpander business line to Air Liquidelngindustry.com
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